Keefe Bruyette Raises PT On JP Morgan Chase To $58

Keefe Bruyette & Woods has published a research report on JP Morgan Chase (NYSE: JPM) as credit costs and organic opportunities improve as displayed at the company's investor day held yesterday.

In the report, Keefe Bruyette writes "On February 15th, JPM hosted an investor day in which the business heads discussed their respective outlooks. Overall, JPM is seeing continued signs of credit improvement and lowered its loss expectations in Cards. Importantly, JPM outlined its organic growth strategies both in international markets through its wholesale businesses and domestically largely through Cards, Commercial Banking and RFS. Based on the improved credit outlook, we are raising estimates and price target."

Keefe Bruyette maintains its Outperform rating and has raised the price target to $58.

JP Morgan Chase closed yesterday at $46.82.