A leading analyst from Wells Fargo predicts a significant surge in earnings for JPMorgan Chase (JPM) as favorable conditions align for the largest bank in America.
During a recent interview on CNBC, Mike Mayo, the managing director and head of US large-cap bank research at Wells Fargo Securities, anticipates that JPMorgan will announce better-than-expected earnings for the first quarter of 2025.
Looking beyond the upcoming earnings call on April 11, Mayo highlights the potential benefits JPMorgan stands to gain from the anticipated deregulation in the financial industry under the new White House administration.
“During a recent conference with Wells Fargo’s research group, which included major Big Tech firms like Amazon, Microsoft, Meta, and Nvidia, JPMorgan received significant praise. It’s being referred to as the Nvidia of banking, with remarkable growth in consumer checking accounts outpacing the industry by two to three times.
Our updated earnings estimates show strong performance expected for the first quarter, with promising outlook for the next few years due to JPMorgan’s position as a major beneficiary of deregulation. The bank is poised to capitalize on trading opportunities, robust earnings, and the advantages of deregulation.
While many are focused on various market segments, JPMorgan continues to lead the way as a top-tier global bank expanding its influence.”
As of the current writing, JPMorgan’s shares are trading at $248, reflecting a 3% increase for the year.
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