Is JPMorgan Chase Stock a Buy On This Dip?
The stock's setback last week makes enough sense on the surface. In defiance of expectations, JPMorgan Chase (NYSE: JPM) didn't raise its 2024 revenue guidance with its first-quarter results posted on Friday. Shares subsequently tumbled to the tune of 6%, extending a sell-off that's been underway since late March. JPMorgan stock is now down 8% from that peak.
The proverbial glass isn't half-empty, however. It's half-full. This dip is a great opportunity to jump on one of the financial sector's top stocks at a bargain price. Here's why.
During the three-month stretch ending in March, JPMorgan Chase turned $42.6 billion worth of revenue into a per-share operating profit of $4.44. Both figures were better than estimates of $41.9 billion and $4.11 (respectively). And both were improvements on the year-earlier comparisons of $39.3 billion and $4.10 per share (again, respectively).
Source Fool.com
JPMorgan Chase & Co. Stock
With 29 Buy predictions and not a single Sell prediction JPMorgan Chase & Co. is an absolute favorite of our community.
As a result the target price of 202 € shows a slightly positive potential of 13.91% compared to the current price of 177.34 € for JPMorgan Chase & Co..
