Here's Why JPMorgan (JPM) Stock Is A Solid Investment Choice
Zacks Investment Research | Jun 14, 2019 08:11AM ET
JPMorgan (NYSE:JPM) , the biggest U.S. bank in terms of total assets, is well positioned to grow, driven by consistent rise in loan demand, higher interest rates, branch expansion efforts and solid asset quality. Further, expanding its reach into lucrative U.S. healthcare payments market with a deal to acquire InstaMed will go a long way in supporting profitability.
However, a slowdown in mortgage banking operation, given the increase in competition and fall in home-buying appetite is a major near-term concern for JPMorgan. Also, dismal investment banking and trading performance will hurt fee income growth to some extent.
Nonetheless, this Zacks Rank #2 (Buy) stock seems like an attractive investment opportunity right now as it has been witnessing solid upward estimate revisions, and has decent price performance amid volatile markets.
Over the past 60 days, the Zacks Consensus Estimate for earnings has increased 1.8% for 2019 and nearly 1% for 2020. Additionally, shares of JPMorgan have rallied 12.2% so far this year, outperforming the Zacks Investment Research
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