HSBC downgrades JPMorgan Chase, adopts 'a more cautious stance' on bank stocks
CNBC: Investing
JULY 8, 2025
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. Martinez also downgraded Bank of America stock to hold and trimmed his rating on Goldman Sachs to reduce. The firm downgraded JPMorgan to reduce from hold.
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