HSBC Raises JPMorgan Price Target to $319, Baird Lifts to Neutral at $280
HSBC upgraded JPMorgan Chase to Hold from Reduce and raised its price target to $319 on February 5 after the stock’s recent underperformance. Earlier, Baird moved its rating to Neutral from Underperform with an unchanged $280 target, citing a more reasonable risk-reward and market share gains.
1. HSBC Upgrade and $319 Price Target
On February 5, HSBC upgraded JPMorgan Chase to Hold from Reduce and raised its price target to $319, citing the stock's recent underperformance and improved outlook.
2. Baird Raises to Neutral at $280
A few days earlier, Baird moved its rating to Neutral from Underperform with an unchanged $280 price target, noting that the risk-reward profile became more reasonable and highlighting JPMorgan's best-in-class franchise and market share opportunities.
3. Q4 Results and 2026 Guidance
JPMorgan reported $45.8 billion in fourth-quarter revenue and $46.8 billion in managed revenue, modestly above estimates, and guided fiscal 2026 net interest income excluding markets at about $95 billion, adjusted expenses near $105 billion, and a card services NCO rate around 3.4%.
4. Investment Banking Pipeline Boost from Jersey Mike’s IPO
The firm was tapped by Jersey Mike’s Subs on January 29 to lead its potential third-quarter 2026 IPO, which could enhance JPMorgan's equity underwriting fees and strengthen its capital markets franchise.