JPMorgan Chase & Co. (NYSE:JPM) reported upbeat third-quarter results on Tuesday.
The company posted quarterly net income of $14.4 billion, or $5.07 per share, up 12% year over year, beating the $4.84 analyst estimate as sales of $47.12 billion topped expectations of $45.39 billion. Managed revenue rose 9% to $47.12 billion, while reported revenue totaled $46.4 billion.
Net interest income increased 2% to $24.1 billion, and noninterest revenue climbed 16% to $23.0 billion.
Chairman and CEO Jamie Dimon said, "While there have been some signs of a softening, particularly in job growth, the U.S. economy generally remained resilient. However, there continues to be a heightened degree of uncertainty stemming from complex geopolitical conditions, tariffs and trade uncertainty, elevated asset prices and the risk of sticky inflation."
JPMorgan shares gained 2.3% to $309.00 on Wednesday.
These analysts made changes to their price targets on JPMorgan following earnings announcement.
- Morgan Stanley analyst Betsy Graseck maintained JPMorgan Chase with an Equal-Weight rating and raised the price target from $336 to $338.
- Barclays analyst Jason Goldberg maintained the stock with an Overweight rating and raised the price target from $330 to $342.
Considering buying JPM stock? Here’s what analysts think:
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