HSBC downgrades JPMorgan Chase, adopts 'a more cautious stance' on bank stocks
CNBC: Investing
JULY 8, 2025
"To us, upside to JPMorgan's share price from current levels over a multi-year period would seem to require a paradigm shift on how banks are valued," he added. The analyst noted a "more cautious stance" on larger banks like JPMorgan and Goldman Sachs over what he said is a still choppy macroeconomic backdrop.
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