JPMorgan Chase's (JPM) remains focused on increasing its tangible book value and dividend growth, driving outperformance against its peers, RBC Capital Markets said Monday in a report.
"We see shareholder gains being driven more from tangible book value and dividends per share growth rather than through further valuation expansion," RBC said.
RBC cut its earnings estimates to $17.75 a share from $18.05 in 2025 and to $18.50 from $18.90 for 2026, citing reduced investment banking and trading revenue due to geopolitical and macroeconomic uncertainties.
RBC raised its price target on JPMorgan stock to $285 from $255 and maintained its outperform rating.
JPMorgan shares rose 0.5% in recent trading Tuesday.
Price: 266.07, Change: +1.19, Percent Change: +0.45
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