JPMorgan EPS Raised to $21.60 as Price Target Falls to $330
Truist lowered its price target on JPMorgan to $330 from $334 while reiterating a Hold rating on February 25. The firm raised its FY26 EPS estimate by $0.35 to $21.60 post-investor day, and CEO Jamie Dimon highlighted a $20 billion annual tech budget driving AI efficiency at a steady 318,500 headcount.
1. Truist Cuts Price Target
On February 25, Truist lowered its price target on JPMorgan Chase & Co. shares to $330 from $334 and maintained a Hold rating on the stock.
2. FY26 Earnings Estimate Raised
The firm raised its FY26 earnings per share estimate by $0.35 to $21.60 following the company’s investor day, citing stronger market revenue growth than previously projected.
3. AI Spending and Workforce Impact
CEO Jamie Dimon detailed a $20 billion annual technology budget aimed at expanding AI across the bank, noting a stable total workforce of about 318,500 employees despite shifts from support roles to client-facing and revenue-focused positions, with automation improving overall efficiency.