Phillip Securities Maintains a Hold on JPMorgan Chase & Co (JPM)

JPMorgan Chase & Co. (NYSE:JPM) is one of the Most Undervalued Long Term Stocks to Buy Right Now. On October 21, Glenn Thum from Phillip Securities maintained a Hold rating on JPMorgan Chase & Co. (NYSE:JPM) with a price target of $305. ​

The company grew its earnings by 12% year-over-year, driven by investment banking income, asset management, and trading; however still fell short of the expectations, said the analyst in a research note. He noted that while the non-interest income was a significant growth driver, the net interest income only grew slightly during the quarter, mainly due to a decline in net interest margins.

Thum remains cautious on JPMorgan Chase & Co. (NYSE:JPM) due to macro-economic uncertainties, including trade tensions and policy changes, which he believes can lead to increased provisions and non-performing loans.

JPMorgan Chase & Co. (NYSE:JPM) is a global financial services firm that provides a wide range of banking and investment services. It operates through segments including Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management.

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Disclosure: None. This article is originally published at Insider Monkey.