J.P. Morgan stock is up more than 37 percent this year, but analysts at Keefe Bruyette & Woods don't expect a repeat in 2020.
J.P. Morgan stock is up more than 37 percent this year, but analysts at Keefe Bruyette & Woods don't expect a repeat of that performance in 2020.
The firm said most of the stock's outperformance in 2019 "was driven by shares re-rating after the sell-off in the back part of 2018." "We would look to add shares when valuations are more reasonable, and in our view a Market Perform rating is warranted," the firm said.stock is up more than 37 percent this year, but analysts at Keefe Bruyette & Woods don't expect a repeat of that performance in 2020.
The firm downgraded the stock to "market perform" from "outperform," and placed a target price of $135 on the shares, which were trading for $134.41 at the close of the market on Monday.
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