JPMorgan’s Price Target Cut at Sterne Agee (JPM)

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 DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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