Investors are still generally skeptical about the earnings growth prospects for banks at this point in the cycle, and JPMorgan's (JPM) rare miss for the fourth quarter didn't help. I wasn't that concerned about the miss at the time,
and with first quarter results coming in ahead of expectations despite
somewhat weak lending, I'm still not all that concerned about JPMorgan's
performance and prospects. While a broader slowdown in the U.S. economy
would, of course, create new headwinds, and I do believe the bank
sector is past the peak in terms of metrics like credit quality, these
shares still look undervalued and have appeal as a longer-term core
holding.
Read the full article here:
JPMorgan Back On Track As One Of America's Best Banks
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