5 Most Profitable Cheap Stocks to Buy Right Now

2. JPMorgan Chase & Co. (NYSE:JPM)

Forward P/E: 14.88

Profit Margin: 33.94%

Net Income Available to Common (TTM): $57.51 Billion

Number of Hedge Fund Holders: 131

JPMorgan Chase & Co. (NYSE:JPM) is one of the most profitable cheap stocks to buy right now. On June 29, Morgan Stanley increased its price target on JPMorgan Chase & Co. (NYSE:JPM) from $336 to $362 and maintained its Equal Weight rating on the stock.

The research firm said it remains positive on the banks into the earnings season, even after the US banks have rallied quarter-to-date. According to Morgan Stanley, revenue momentum continues to build across the industry.

Earlier, on June 26, Truist analyst John McDonald lifted the firm’s price target on JPMorgan Chase & Co. (NYSE:JPM) from $332 to $344 and maintained a Hold rating on the stock.

McDonald noted that late-May guidance for total markets revenue growth of 11% or more year-over-year and investment banking fee growth of at least 10% or more year-over-year was not updated in early June. However, the analyst noted that activity levels since then suggest results could come in stronger than previously expected.

JPMorgan Chase & Co. (NYSE:JPM) is an American multinational financial services firm with leading positions in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management.