NEW YORK (TheStreet) -- JPMorgan Chase (JPM) shares are up 1.07% to $62.60 in trading on Tuesday despite a report in the New York Times today claiming that the data breach that affected the bank earlier this year could have been avoided with a simple security fix.
The company revealed in October that the names, addresses, phone numbers and email addresses of about 83 million accounts were exposed in one of the largest data breaches in American history.
The bank did not use a double authentication scheme after its security team neglected updating one of the company's servers with the security measure, according to the Times.
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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 compelling growth in net income, revenue growth, notable return on equity, increase in stock price during the past year and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow."