Financial services giant JPMorgan Chase & Co. (JPM) on Friday saw its price target lowered by analysts at Sterne Agee.
The firm said it lowered its target on JPM from $48 to $41, suggesting a 22% upside to the stock’s Thursday closing price of $33.51. Sterne Agee also maintained its “Buy” rating on JPM.
JPMorgan shares, which have fallen 21% year-to-date, were down slightly in premarket trading Friday.
The Bottom Line
Shares of J.P. Morgan (JPM) have a 2.98% dividend yield, based on last night’s closing stock price of $33.51. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $36-$38 price levels.
JPMorgan Chase & Co. (JPM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.