Major Bank Ratings | Morgan Stanley: JPMorgan Delivered Solid Performance Last Quarter, Maintains "Equal-weight" Rating

Glonghui January 14th｜Morgan Stanley released a research report stating that JPMorgan's earnings per share in the fourth quarter of last year reached $4.63, exceeding both the bank's and market expectations. However, JPMorgan's stock underperformed the market after the earnings release, reflecting that the market expects the company to face operational leverage contraction this year due to investment in growth. Morgan Stanley believes JPMorgan's performance last quarter was solid, indicating that its compound annual growth rate of earnings per share will exceed 10% over the next two years. The bank lowered its earnings per share estimate for JPMorgan this year by 0.5% to $21.51, maintaining a target price of $331 and an "Equal-weight" rating.