JP MORGAN CHASE(US:JPM) 智通财经网·2025-06-27 13:48Group 1 - JPMorgan Chase (JPM.US) has seen its stock price surge over 40% since April's low, reaching a historical high, driven by multiple favorable factors [1] - Baird analysts downgraded JPMorgan's rating from "Neutral" to "Underperform," citing that market expectations have become overly inflated and the stock's valuation is overstretched [1] - The analysts acknowledged JPMorgan as the "gold standard" in the industry, with leading market share and a strong balance sheet, but emphasized that market expectations are at excessively high levels [1] Group 2 - The KBW Bank Index has rebounded over 30% since early April, while regional banks have only increased by 18%, remaining below their yearly highs [2] - Baird also downgraded Bank of America (BAC.US) from "Outperform" to "Neutral," stating that its stock price has reached fair value [2] - The Federal Reserve is set to announce the annual bank stress test results, with JPMorgan expected to release its quarterly earnings on July 15 [2]