JPMorgan Chase Price Target Upped On Calmer Europe
NEW YORK (TheStreet) -- Morgan Stanley analyst Betsy Graseck on Thursday raised her price target for JPMorgan Chase (JPM) to $45, "on reduced European risk."
Graseck also said that contrary to the "consensus view
The analyst raised her 2013 earnings estimate by two cents to $5.20 a share, while leaving her 2012 EPS estimate unchanged, at $4.46.
JPMorgan Chase's shares closed at $39.95 on Wednesday, returning 21% year-to-date, following a 20% decline in 2011.
JPMorgan's shares were trading for 1.3 times tangible book value according to HighlineFI, and for 8.5 times the consensus 2012 earnings estimate of $4.69, among analysts polled by Thomson Reuters. The consensus 2013 EPS estimate is $5.45.