As often happens just after a company delivers blowout quarterly results, JPMorgan Chase (JPM -1.05%) is feeling some extra love from analysts. On Tuesday, one of them -- Credit Suisse's Susan Roth Katzke -- raised her price target on JPMorgan Chase stock to $150 per share, up from the previous $142, while maintaining her outperform (buy) rating.
But Katzke also believes the stock could go higher. Her best-case scenario, which assumes a relatively quick economic recovery from the travails of the pandemic among other positive developments, models $181. That represents a gain of over 31% on JPMorgan's most recent closing share price.
She is not the only JPMorgan watcher who has recently upped a price target on the stock. Also on Tuesday, Royal Bank of Canada pegged it at $150 per share, from its previous $130, while Barclays boosted its own target by just under 5% to $172.
JPMorgan Chase's final quarterly results from 2020 were released on Friday. The per-share earnings of $3.79 were significantly higher than the average analyst estimate, and while the period's revenue of nearly $30.2 billion wasn't as dramatic a beat, it still comfortably topped expectations.
This was aided enormously by robust 34% year-over-year growth in investment banking, while the bank's source of cheap funding expanded greatly with a 35% increase in average deposits. Another piece of happy news for investors was that, in line with a recent loosening of restrictions by the Fed, JPMorgan Chase is resuming share buybacks to the tune of $4.5 billion in its current quarter.