Three Big Takeaways From Bank Earnings -- WSJ
HSBC: Maintains bud apac 'Neutral' rating, target price lowered to 9.2 Hong Kong dollars.
HSBC released a research report stating that it maintains a "neutral" rating on Bud APAC (01876), and after lowering profit forecasts by 5 to 8%, it expects a year-on-year decrease of 3%, 4%, and 4% in revenue/EBITDA/EPS respectively. The average compound growth rates for 2024 to 2026 are projected to be 4%, 5%, and 8%. The bank believes its valuation is reasonable, with a forecast PE ratio of 16 times next year, and the main upward catalyst is the upcoming stimulus domestic consumer policy. The target price has been reduced from 9.6 Hong Kong dollars to 9.2 Hong Kong dollars. The bank expects that Bud APAC's third-quarter sales/EBITDA/EBIT/EPS will decrease compared to the same period.
UBS Group: Upgrades JPMorgan's target price to $251 and raises next year's earnings per share forecast.
UBS Group has issued a report, raising JPMorgan's next year earnings per share forecast from $14.2 to $15.2, $17.4 in 2026, driving the target price from $233 to $251. UBS Group believes that although JPMorgan's valuation is at a premium to its peers, the third-quarter performance and outlook indicate the bank has a strong capital base and highly liquid assets, along with an unmatched revenue mechanism, hence maintaining a 'buy' rating. The report states that after a month of back and forth discussions with investors, JPMorgan's next year net interest income forecast is revised back to $89.3 billion, excluding market income.
Press Release: JPMorganChase Declares Preferred Stock Dividends
JPMorgan Options Spot-On: On October 15th, 104.09K Contracts Were Traded, With 960.44K Open Interest
Does JPMorgan Chase (NYSE:JPM) Stock Have More Room to Run?
