HSBC Upgrades JPMorgan Chase to 'Hold' With $319 Price Target, Citing Improved Outlook

JPMorgan Chase (JPM) received an improved outlook after HSBC upgraded the bank's stock to 'Hold' from 'Reduce,' setting a new price target of $319.

• The analyst action reflects a re-evaluation of the bank's valuation, providing cautious support for the shares.
• The upgrade follows the completion of a routine $3 billion fixed-to-float public offering by management.
• Prior to the upgrade announcement, JPM shares had closed down 2.24% at $310.16.