Why JPMorgan Chase (JPM) Stock Is Falling Today
Shares of global financial services giant JPMorgan Chase (NYSE:JPM) fell 3.5% in the afternoon session after a downgrade by analysts at HSBC to “Reduce” from “Hold.”. The investment firm cited valuation concerns as the primary driver for the downgrade, even as it raised its price target on the stock to $259 from $237.
Following a strong run-up in the share price over the past year, HSBC expressed caution, noting that further significant upside would be challenging without a major shift in how the bank is valued.
Analysts at the firm also highlighted that potential downside risks tied to economic uncertainty do not appear to be fully priced into the stock. Furthermore, they suggested that larger-than-expected interest…
