JPMorgan Chase just released an update on the company’s financial outlook.
In a new note to clients, global investment strategist Madison Faller says JPMorgan has a “glass half full” after a month-long dip in the stock market. reports the financial technology company TipRanks.
“Every year there are good and bad things that impact the economy and the markets. And while we tend to see the glass as half full as we examine the current array of opportunities and risks, we are also reminded that volatility is normal.”
With the stock market down 3.8% over the past month, Faller says most investors are missing opportunities to buy into the dip.
“Investors tend to sell during the dips and miss the recovery – flows into cash and out of equities have already been significant this year. But when investors are scared, that is often the time to strike.”
In the crypto markets, Nikolaos Panigirtzoglou, director of JPMorgan Chase, says he sees a “limited downside” following a recent correction. reports Bloomberg.
According to Panigirtzoglou, the liquidations of the long positions are largely over, and “as a result, we see limited short-term downsides for the crypto markets.”
On specific stocks, TipRanks says JPMorgan analyst Philip Cusick is bullish on Telephone & Data Systems (TDS), which bounced back after the company indicated it was preparing to sell its 83% stake in US Cellular.
The company’s second-quarter revenue and earnings came in below expectations, but Cusick says the restructuring could trigger a rally from $17.59 to $38, implying 116% upside for the year ahead.
In addition, JPMorgan analyst Eric Joseph says HilleVax, a clinical-stage vaccine development company,HLVX) could skyrocket as the company’s vaccines move through the pilot phases. Joseph has set an upside price target of $22 from the current price of $13, a potential upside of 69%.
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