A Topwells Fargo analyst says that income from JPMorgan Chase (JPM) will rise as the stars adjust to the largest bank in America.
In a new interview about CNBC, Mike Mayo, director and head of US Large-Cap Bank Research says at Wells Fargo Securities, that he expects JPMorgan to expect report higher than expected income for Q1 2025.
In addition to the bank’s profit on 11 April, Mayo says that JPMorgan, more than any institution, could benefit from an expected wave of deregulation promised to the financial sector by the new white house administration.
“I had a conference last week with the research group of Wells Fargo. We had all kinds of large technology companies there. We had Amazon, Microsoft, Meta, Nvidia. And you know what was interesting about that conference? It was the praise that Jpmorgan got from Big Tech. So JPMorgan is the growth in their Nvidia.
That is in the next five years, but let’s talk about the following year. We have updated our profit estimate – and JPMorgan reports the profit for the first quarter of Friday two weeks – and I think that income will be strong.
Moreover, we have increased our estimates for the coming years because JPMorgan is one of the largest beneficiaries of deregulation. So Goliath wins when it comes to technology and their part of the profits, you have trade, strong income that is improving and one of the greatest beneficiaries of deregulation.
So people look at small pieces of the market and banks and they miss the seismic shift that takes place at JPMorgan. [It’s a] The best in Class Global Bank that expands its competition. “
At the time of writing, shares of JPM on $ 248, an increase of 3% compared to the year.
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