JPMorgan Chase & Co. (JPM) Upgraded to Neutral Despite Valuation Concerns

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JPMorgan Chase & Co. (JPM) has been upgraded to Neutral by Baird and to Hold by HSBC, despite concerns over its current valuation and recent stock performance. Baird noted JPM’s “enviable capital position” and market share expansion, while HSBC’s target price suggests a minor downside. The upgrades come after a period of underperformance for JPM shares compared to banking indexes.

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