4 Big Banks With Earnings Upside From Morgan Stanley
JPMorgan Chase
JPMorgan Chase (JPM) saw its first quarter estimate rise 14% to $1.22 from $1.07 previously, while 2012 earnings forecast was revised to $4.88 from $4.46. Morgan Stanley is most bullish on JPMorgan.
"We favor banks with ability to take share in a capital constrained environment, manage expenses and return sizeable capital to shareholders in 2012. We think JPM's best in class franchise is well positioned to take share and win through this environment and buyback $12b of stock in 2012," the analyst wrote.
Graseck has a price target of $60 for JPMorgan. That represents a 33% upside from the stock's current levels. Shares were last seen up 0.16% at $44.65. Goldman Sachs Goldman Sachs (GS) saw its price target raised to $125 from $112. Estimates for the investment bank's first quarter earnings jumped 50% to $3.25 on the back of higher marks for its investment and lending division. Forecast for the year was lifted 18% to $11.10. Goldman is likely to buyback $4 billion in stock in 2012 and $7.5 billion in 2013, according to the analyst. Shares of Goldman were rising 1.2% to $124.45. --Written by Shanthi Bharatwaj in New York>To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: tips@thestreet.com.
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