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WASHINGTON MUTUAL Message Board

  • sollid_companiess_only sollid_companiess_only Aug 1, 2013 11:55 AM Flag

    Definitely a STRONG BUY!!!!!!!!!!!!

    JPMorgan Remains a Strong Buy

    NEW YORK (TheStreet) -- Never underestimate the value of a strong balance sheet, especially when it is filled with well diversified businesses.

    JPMorgan still has a strong business in investment banking, mortgages and retail banking. If the bank can continue to produce solid return on equity in the low-to-mid single-digits coupled with a discount rate of 9.5%, fair value on the stock can reach $55. Plus, given the potential for share buybacks over the next several quarters, along with an improving balance sheet, investors can still get a 20% premium just by being patient.

    The stock up 27% for the year to date and trading at around $55 per share. With the bank now producing fee income growth of more than 30%, there's no question that when compared to Bank of America and Citigroup , shares of JPMorgan are still undervalued.

    What's more, there are very few banks that can match JPMorgan's performance in terms of profitability and credit quality. I like JPMorgan's long-term growth prospects. I can now see this stock reaching the $60 to $65 range by the end of the year

 
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