NEW YORK (TheStreet) -- Shares of JPMorgan Chase & Co. (JPM) are lower by 0.24% to $61.78 in pre-market trading Tuesday, after the bank was downgraded to "market perform" from "outperform" by analysts at Keefe Bruyette this morning.
Keefe Bruyette cited valuation, with the New York City-based company's stock nearing its $64 price target with potential upside of only 3%, excluding dividend.
Analysts at the firm added that they also see more downside risk than upside potential to JPMorgan Chase's earnings estimates, in the case that the Federal Reserve is slow to raise interest rates.
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Keefe Bruyette maintained its $64 price target on shares.
Separately, TheStreet Ratings team rates JPMORGAN CHASE & CO as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate JPMORGAN CHASE & CO (JPM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, compelling growth in net income, impressive record of earnings per share growth and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."