JPMorgan Nears $1 Trillion Market Cap as Wells Sees $2 Trillion in 7-8 Years
Updated
Updated · CNBC · Aug 16
JPMorgan Nears $1 Trillion Market Cap as Wells Sees $2 Trillion in 7-8 Years
2 articles · Updated · CNBC · Aug 16
Summary
$965 billion — JPMorgan ended Friday just shy of the $1 trillion mark, with Wells Fargo saying it can become the first bank to reach that valuation.
Wells lifted its price target to $390 from $375, implying more than 7% upside, and said JPMorgan's market-share gains, steady earnings and heavy reinvestment support further growth.
Mike Mayo said a self-funded investment loop across branches, bankers, technology and international operations is driving gains in deposits, credit cards, capital markets and banking.
Shares have climbed 21% in the past three months as trading and dealmaking fueled record profits, while Wells argues a $2 trillion valuation in seven to eight years would require earnings growth more than multiple expansion.
Wall Street broadly shares the bullish view: 15 of 26 analysts tracked by LSEG rate the stock buy or strong buy.
Will JPMorgan's aggressive leap into AI and blockchain truly secure a historic two-trillion-dollar valuation or expose it to unprecedented systemic risks?
Could the relentless tech-driven flywheel propelling JPMorgan toward a trillion-dollar monopoly eventually trigger a catastrophic regulatory backlash?