Baird Raises JPMorgan Target to $280 Despite 13% Downside
Baird upgraded JPMorgan Chase from Underperform to Neutral on February 3, setting a $280 price target that implies 13.1% downside. HSBC later moved the stock from Reduce to Hold with a $319 target implying roughly 1% downside as shares have fallen 3.94% YTD versus KBW Bank and Regional Banking indexes.
1. Baird Upgrade to Neutral
On February 3, Baird upgraded JPMorgan Chase from Underperform to Neutral and set a $280 price target implying a 13.1% downside.
2. HSBC Maintains Hold Rating
HSBC upgraded the stock from Reduce to Hold on February 6, retaining a $319 price target that suggests roughly 1% downside.
3. Performance and Valuation Outlook
JPMorgan’s shares have fallen 3.94% year-to-date versus the KBW Bank Index’s 4% gain and Regional Banking Index’s 8% surge, while analysts warn that current valuation remains relatively expensive despite the bank’s strong capital position.