** JPMorgan Chase's JPM.N profit exceeded analysts' estimates in the fourth quarter, but its shares fell on Tuesday as investment banking revenue missed market expectations
** Average rating of 27 analysts is "buy"; median PT is $345 - data compiled by LSEG
ALL THAT GLITTERS IS GUARDED GOLD
** RBC Capital Markets ("outperform," PT: $330) says JPM is well positioned to manage the Fed's upcoming Basel III endgame re-proposal—the final phase of global banking capital rules — and the bank is likely to continue delivering above-average profitability under leadership of chairman and CE Jamie Dimon
** Barclays ("overweight," PT: $391) says net interest income (NII) was close to forecasts, supported by higher loan growth and net interest margin $(NIM)$
** Piper Sandler ("overweight," PT: $345) says non-interest income is the only area where they slightly lowered forecast, reflecting lingering impact of weaker-than-expected Q4; however, the investment banking pipeline remains strong
**Morningstar (fair value: $289) says JPM’s earnings serve as a gauge of consumer, corporate, and financial system health, and broad-based revenue growth suggests all three remain resilient, though management’s tone points to cautious outlook beyond 2026
JPMorgan’s 12-month rally trails analyst targets https://reut.rs/4bhNur9
(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com))
