JPMorgan Chase & Co. (JPM) Upgraded to Buy: Here's What You Should Know

Core Viewpoint - JPMorgan Chase & Co. has received an upgrade to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are closely correlated with near-term stock price movements [2][4]. - Rising earnings estimates for JPMorgan Chase & Co. indicate an improvement in the company's underlying business, likely leading to an increase in stock price [5][8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7][9]. - The upgrade to Zacks Rank 2 places JPMorgan Chase & Co. in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10][11]. Earnings Estimate Revisions - Analysts expect JPMorgan Chase & Co. to earn $17.62 per share for the fiscal year ending December 2024, reflecting a year-over-year change of 8.6% [8]. - Over the past three months, the Zacks Consensus Estimate for the company has increased by 5.4% [8].