TD Cowen Raises JPMorgan Price Target to $315 After Investor Day

On May 20, TD Cowen updated its evaluation of JPMorgan Chase & Co. (NYSE:JPM), raising its price target from $305 to $315 while maintaining a Buy rating. The change follows the company's investor day, which provided analysts with greater confidence in the bank's distinct market position.

According to the investor day presentation, JPMorgan Chase & Co. (NYSE:JPM) is poised to create significant value, as evidenced by its revenue growth at a compound annual growth rate of about 8% over the previous five years. The company aims to organically achieve 15% of the deposit market and 20% of the card market within its Consumer & Community Banking division. Analyst Steven Alexopoulos anticipates the company's dominant market share positions to continue growing in the years to come, but it also anticipates an even faster rate of earnings growth due to the exponential productivity gains AI brings.

Furthermore, JPMorgan Chase & Co. (NYSE:JPM) announced its commitment to growing its Asset & Wealth Management division by expanding into private banking, workplace solutions, and alternative industries. The company's Corporate & Investment Bank is also prioritizing improvements in customer service, particularly in the payments sector. Although these initiatives don't appear to represent significant new advancements, they highlight the company's long-term financial goals and support its strategic trajectory.

While we acknowledge the potential of JPM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than JPM and that has 100x upside potential, check out our report about the cheapest AI stock.

Read More: 10 Defensive Stocks Billionaire Ken Fisher Is Betting On and 10 Best Stocks to Buy According to Billionaire Steve Cohen.

Disclosure: None.