We recently published 13 Stocks That Jim Cramer Discussed. JPMorgan Chase & Co. is one of the stocks Jim Cramer recently discussed.
With the S&P’s banking index having gained 5.4% over the past month to outpace the broader index’s 2.2% in gains, Cramer has started discussing bank stocks during his morning show. He believes JPMorgan Chase & Co.’s shares, like its peer Goldman Sachs’ stock, are trading at low multiples. In fact, Cramer has gone so far as to call JPMorgan Chase & Co. the greatest bank in the world recently. This time, he discussed how the shares were on track for another all-time high despite concerning numbers about growth and employment. These figures saw unemployment tick to a two-year high of 4.3% in August:
“Well, I do wanna point out that there has been a series of amazing interviews that our friend Leslie Picker has done. Which put the banks at a level that say you know what, they don’t belong at 15 times earnings. JPMorgan up another four today.
“But look I liked all the banks from there last night, at our 30th. They’re not kidding, they know that’s a bad call. But they are very bullish.”
Previously, Cramer maintained that JPMorgan Chase & Co.’s stock could do better:
“I mean, okay sorry Jamie, because Jamie’s unbelievable. I mean, let’s take a look. This is a good example of what I’m talking about a stock that should not be where it is. JPMorgan, it sells at 15 times earnings. There’s no greater bank in the world than this bank.”
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This article is originally published at Insider Monkey.
