We are downgrading our rating on JPMorgan Chase (JPM) shares to Underperform.

Fourth quarter earnings were well ahead of the Zacks Consensus Estimate, aided by better-than-expected results at its Investment Bank segment. However, persistent high levels of consumer credit costs and increased provisions for credit losses were among the major negatives.

While we anticipate continued synergies from the company’s diversification and strong capital position, we believe increasing provisions and a pressured credit quality will drag down future earnings.

Zacks Investment Research

1. (JPM) JPMorgan Chase & Company’s Earnings Beat on Surging ProfitsJPMorgan Chase & Company’s (JPM) 4th quarter earnings came in at 74 cents per share,...
2. (JPM) JPMorgan Chase & Company Sues Former ExecutiveJPMorgan Chase & Company (JPM) said on Monday that it has sued a former banking...
3. (JPM) JPMorgan Chase & Company Adds More Mortgage CentersJPMorgan Chase & Company (JPM) said on Wednesday that it will substantially increase its nationwide...
4. (JPM) JPMorgan Chase & Company to Lift Salary FreezeAccording to an internal memo to all employees, JPMorgan Chase & Company (JPM) will lift...
5. (JPM) JPMorgan Chase & Company Settles SEC ChargesThe Securities and Exchange Commission said on Wednesday that JPMorgan Chase & Company (JPM) agreed...
6. (JPM) JPMorgan Chase & Company to Pay SettlementJPMorgan Chase & Company (JPM) decided to pay $55 million to settle a lawsuit related...

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