JPMorgan Chase
JPM
$348.21
+0.86%
JPMorgan Chase & Co. is a leading global financial services firm operating across consumer banking, commercial and investment banking, and asset and wealth management. As the largest U.S. bank by assets and the top-ranked investment bank globally with an 8.4% market share, it commands a formidable competitive position. The current investor narrative centers on its record quarterly earnings driven by strong net interest income and investment banking fees, alongside a $50 billion buyback authorization and dividend raise that underscore capital strength, though valuation near all-time highs and macro uncertainty around rate cuts and oil prices fuel debate.…
JPM
JPMorgan Chase
$348.21
Related headlines
JPM 12-Month Price Forecast
Wall Street consensus
Most Wall Street analysts maintain a constructive view on JPMorgan Chase's 12-month outlook, with a consensus price target around $369.70 and implied upside of +6.2% versus the current price.
Average Target
$369.70
0 analysts
Implied Upside
+6.2%
vs. current price
Analyst Count
—
covering this stock
Price Range
$305 - $420
Analyst target range
JPMorgan is covered by 21 analysts, with a consensus recommendation of 'Buy' (mean score 2.17 on a 1-5 scale where 1 is Strong Buy). The average target price is $364.81, implying 6.95% upside from the current price of $341.10. The distribution leans bullish: 10 recent ratings include 7 Outperform/Overweight/Buy and 3 Hold/Neutral, with no Sell ratings. The target range spans from $305.00 (low) to $420.00 (high). The high target of $420 assumes continued earnings growth driven by investment banking momentum and capital return, while the low target of $305 factors in potential margin compression from rate cuts or a recession. The spread of $115 (27% of the average target) indicates moderate uncertainty. Recent ratings from RBC Capital, Wells Fargo, and Barclays reaffirm Outperform/Overweight, while BofA and UBS maintain Buy, signaling strong institutional conviction.
JPM Technical Analysis
JPMorgan is in a sustained uptrend, with the stock up 17.66% over the past year, outperforming the S&P 500's 18.35% gain. The current price of $341.10 sits at 97.1% of its 52-week range ($279.10–$351.24), indicating the stock is near its highs and reflecting strong momentum but also potential overextension. Short-term momentum is accelerating: the 1-month return is +2.29% and the 3-month return is +9.93%, both outpacing the S&P 500's respective gains of 0.31% and 4.67%. This divergence from the broader market's slower pace suggests JPM is benefiting from sector-specific catalysts like rising net interest income and robust investment banking activity. The stock's beta of 0.982 indicates volatility roughly in line with the market, making it a relatively stable large-cap holding. Key support lies near the 52-week low of $279.10, while resistance is at the 52-week high of $351.24. A breakout above $351.24 would signal continued upside momentum, while a breakdown below $279.10 could indicate a trend reversal.
Beta
0.98
0.98x market volatility
Max Drawdown
-15.5%
Largest decline past year
52-Week Range
$279-$351
Price range past year
Annual Return
+19.5%
Cumulative gain past year
| Period | JPM Return | S&P 500 |
|---|---|---|
| 1m | +5.0% | +0.4% |
| 3m | +11.7% | +5.5% |
| 6m | +17.0% | +8.4% |
| 1y | +19.5% | +18.9% |
| ytd | +7.0% | +9.6% |
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JPM Fundamental Analysis
JPMorgan's revenue trajectory is accelerating, with Q2 2026 revenue of $82.46 billion growing 17.94% year-over-year, up from $69.91 billion in Q2 2025. This marks the third consecutive quarter of double-digit growth, driven by strong performance in Consumer & Community Banking ($19.40B) and Commercial & Investment Bank ($19.38B). The growth is fueled by higher net interest income from elevated rates and record investment banking fees. Profitability is robust: net income for Q2 2026 was $21.16 billion, with a net margin of 25.65%, up from 21.44% a year ago. Gross margin improved to 66.50% from 60.11%, reflecting operating leverage and expense discipline. The company is highly profitable and generating substantial free cash flow, with TTM free cash flow of $140.95 billion. The debt-to-equity ratio of 2.60 is manageable for a bank, and ROE stands at 15.74%, indicating strong returns on equity. The current ratio of 0.52 is typical for banks due to their business model, and the ample cash position ($312 billion at end of Q1 2026) provides liquidity.
Quarterly Revenue
$82.5B
2026-06
Revenue YoY Growth
+17.9%
YoY Comparison
Gross Margin
66.5%
Latest Quarter
Free Cash Flow
$140.9B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
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Valuation Analysis: Is JPM Overvalued?
Since net income is positive, the primary valuation metric is the P/E ratio. The trailing P/E is 16.04x, while the forward P/E is 13.92x, implying the market expects earnings growth of about 15% over the next year. The gap between trailing and forward P/E suggests optimism about continued earnings expansion. Compared to the industry average P/E of 12.1x (based on historical data), JPM trades at a 33% premium, reflecting its superior profitability and market position. This premium is justified by its industry-leading ROE of 15.74% and net margin of 25.65%, well above the sector median. Historically, JPM's trailing P/E of 16.04x is near the high end of its 5-year range (roughly 8x–16x), indicating the market is pricing in optimistic expectations. The current P/B ratio of 2.48x is also elevated versus its historical average of ~1.5x, suggesting the stock is not cheap by historical standards.
PE
16.0x
Latest Quarter
vs. Historical
High-End
5-Year PE Range 8x~17x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
18.4x
Enterprise Value Multiple

