This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Citigroup Is Your Best Bank Stock Play Through 2015: Deutsche Bank


O'Connor maintained his "Hold" rating on JPMorgan Chase (JPM - Get Report), but raised his price target for the shares to $48 from $40, saying that the new price target "assumes JPM trades in line with market sensitive peers (at 9x our 2014E) and a discount to our target group multiple for market sensitive banks and large regionals of 10.5x." JPMorgan's shares closed at $44.57 Thursday. Deutsche Bank estimates the company will earn $4.95 a share in 2013, with EPS growing to $5.36 in 2014 and $5.84 in 2015.

O'Connor also stuck with his "Hold" rating for Wells Fargo (WFC - Get Report), while raising his price target by a dollar to $37. The analyst said that his price target "assumes WFC shares trade mostly in line with our target group multiple of 10.5x our 2014E (a premium to market sensitive banks, but in line with large regionals)." Wells Fargo's shares closed at $34.76 Friday. O'Connor estimates that the company will earn $3.55 a share this year, with EPS rising to $3.68 in 2014 and $3.98 in 2015.

RELATED STORIES:






-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG
BAC $16.29 0.00%
C $52.82 0.00%
FRC $58.58 0.00%
JPM $63.92 0.00%
SBNY $138.12 0.00%

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs