JPMorgan Chase & Co. (JPM) Price Target Trimmed by $31

JPMorgan Chase & Co. (NYSE:JPM) is included among the 15 Best S&P 500 Stocks to Buy Right Now.

pcruciatti / Shutterstock.com

JPMorgan Chase & Co. (NYSE:JPM) is one of the oldest, largest, and best-known financial institutions in the world. The company serves millions of customers, clients, and communities in over 100 global markets.

On March 31, Morgan Stanley analyst Manan Gosalia lowered the firm’s price target on JPMorgan Chase & Co. (NYSE:JPM) from $365 to $334, while maintaining an ‘Equal Weight’ rating on the shares. The reduced target still indicates an upside of over 13% from the current levels.

According to Morgan Stanley, the median bank stock in its coverage is down by 5% over the last month, driven by concerns about the potential impact of the US-Iran war on economic growth and inflation, as well as by market concerns on private credit headlines. As a result, the analyst firm trimmed its price targets across the group by an average of 9%, as it applied lower target valuation multiples to reflect the ongoing high-risk environment.

Similarly, earlier on March 26, Truist also reduced its price target on JPMorgan Chase & Co. (NYSE:JPM) (read the details here).

READ NEXT: 15 Best High Yield Energy Stocks to Buy Now and 14 Best Energy Stocks to Buy According to Wall Street Analysts

Disclosure: None. Follow Insider Monkey on Google News.