Oppenheimer Reiterates JP Morgan Chase (NYSE: JPM) Outperform Rating

Oppenheimer analysts Chris Kotowski, Benjamin Chittenden, and Kaimon Chung reiterated their Outperform rating for shares of JP Morgan Chase & Co. (NYSE: JPM) with a price target of $54.

The analysts believed that JP Morgan Chase & Co. "has a well-positioned and well-managed portfolio of companies that should do relatively well in just about any environment and absolutely well if the economic recovery continues to gain hold."

They pointed out that the companies forecast of earnings per share of $5.54 to $6.04 were below Oppenheimer's estimate of $6.46 per share but the company's management likes to set targets that it can beat.

The stock's 52 week trading range is $14.96 to $47.47.