According to Citi, JP Morgan Chase & Co JPM reported 1Q11 EPS of $1.28 vs its $1.33 estimate and consensus of $1.16.
Citi reported that core PTPP of $11.6 billion came in ~$400 million better than its expectations driven by strong performance in the I-Bank, offset by modest weakness across the commercial bank, asset mgmt and real estate portfolio. “Raising 2011 from $4.80 to $5.20 (vs cons of $4.77) for the 1Q beat, lower losses in Card and slightly faster reserve release; trimming 2012 from $5.70 to $5.60 (vs cons of ~$5.60) mostly due to pull forward of reserve release.”
JP Morgan Chase & Co closed yesterday at $46.25.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorAnalyst RatingsCitiFinancialsJP Morgan Chase & Co.Other Diversified Financial Services
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in