NEW YORK (TheStreet) -- Shares of JPMorgan Chase & Co. (JPM) are falling, lower by 0.96% to $60.78 in pre-market trading on Wednesday, after the financial holding company was downgraded to "market perform" from "outperform" by analysts at Sanford C. Bernstein this morning.
Bernstein analysts cut its rating on shares based on valuation, but maintained its price target of $65.
Analysts at the firm also cited New York City-based JPMorgan Chase's mixed near-term outlook from higher regulatory requirements, as well as sluggish fundamentals.
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Yesterday, analysts at Bank of America/Merrill Lynch and analysts at Keefe, Bruyette & Woods both downgraded JPMorgan Chase to "market perform" from "outperform" with a $64 price target.
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."