Truist Cuts JPMorgan (JPM) Target While Increasing Long-Term Earnings Estimates

JPMorgan Chase & Co. (NYSE:JPM) is included among the 14 Best Affordable Dividend Stocks to Buy According to Analysts.

On February 25, Truist lowered its price recommendation on JPMorgan Chase & Co. (NYSE:JPM) to $330 from $334. It reiterated a Hold rating on the shares. The analyst said the firm is raising its FY26 EPS estimate by $0.35 to $21.60 after the company’s investor day. The revision reflects stronger market revenue growth than Truist had previously expected, according to the research note shared with investors.

A February 24 CNBC report highlighted comments from JPMorgan Chase CEO Jamie Dimon, who said the bank is preparing for the impact of artificial intelligence. He explained that AI has already replaced some roles, but the bank is working to move affected employees into new positions rather than letting them go. JPMorgan continues to invest heavily in technology. The bank spends nearly $20 billion each year on tech as it expands the use of AI across its business.

The company’s total workforce remained steady at about 318,500 employees, though some roles shifted. Support and operations positions declined, while client-facing and revenue-focused roles increased. AI and automation have also improved efficiency. Employees can now manage more accounts, fraud-related costs have declined, and software engineers are working more productively.

Dimon said the bank is increasing its use of generative AI, especially in customer service and technology areas. He also cautioned that AI could disrupt many professions and lead to significant job losses if not handled carefully. He said companies and governments need to prepare by investing in retraining programs and helping workers adjust to these changes.

JPMorgan Chase & Co. (NYSE:JPM) operates as a financial holding company, providing investment banking, consumer and small business financial services, commercial banking, transaction processing, and asset management.

While we acknowledge the potential of JPM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 13 Best Strong Buy Dividend Stocks to Invest In and Goldman Sachs Dividend Stocks: Top 14 Stock Picks

Disclosure: None.  Follow Insider Monkey on Google News.