Jim Cramer Considers "JPMorgan as the Favorite" in the Trillion Dollar Market Cap Race

JPMorgan Chase & Co. (NYSE:JPM) is one of the stocks Jim Cramer recently provided insights on. Cramer called it his “number one favorite,” as he remarked:

“So what’s my number one favorite? JPMorgan Chase, the nation’s largest bank at the $832 billion market cap, I think it’s going to be the first to a trillion. JPMorgan is incredibly well-run. America’s top banker, Jamie Dimon at the helm, its fortress balance sheet that allows the company to consolidate in times of stress, like they did during the many banking crises two years ago, where they came out the winner. But the reason I have JPMorgan as the favorite in this race with 3:1 odds is very simple. The banks are on fire right now, and right now, this stock is ridiculously cheap. But this, you know, this thing trades at 15 times this year’s earnings estimates. Who said that every stock’s expensive in this market? If we get a little multiple expansion and people say that they start paying on 17.5 times next year earnings estimates, then JPMorgan wins this race in a heartbeat.”

JPMorgan Chase & Co. (NYSE:JPM) provides financial services, including banking, lending, payments, and investment management. In addition, the company offers investment banking, asset management, and advisory solutions.

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