Street View: JPMorgan's growth story only getting stronger

First Republic Bank

17/07/2023 12:00

** JPMorgan Chase  JPM.N  beat Wall Street estimates with
record Q2 profit even as chief Jamie Dimon cautioned about
unprecedented economic risks
    
    "STRONG RETURNS, BEAT & RAISE;" PERFORMANCE UNSUSTAINABLE 
    
    ** KBW ("market perform," PT: $175) believes co operating at
peak net interest income (NII); flags 7% decline in 2024
    ** "Although it is a challenging deposit environment, the
acquisition of First Republic Bank and a young branch network
may help to partially mitigate industry pressures" - KBW
    ** CFRA ("rating," PT: $175) says loan growth can benefit
net interest income and non-interest income in 2023-2024
    ** Citigroup ("neutral," PT: $160) says it is overall "a
very strong quarter and the co remains very well positioned,"
but largely reflected in valuation
    ** Evercore ISI ("outperform," PT: $158) acknowledges this
level of performance is eventually unsustainable
    

 (Reporting by Subhadeep Chakravarty in Bengaluru)
 ((subhadeep.chakravarty@thomsonreuters.com))