JPMorgan Downgraded by Dick Bove at Rafferty Capital and 2 Other Dow Movers to Watch
JPMorgan Chase & Co. (NYSE:JPM): Current price $52.36
Adverse headline risks have prompted analyst Dick Bove at Rafferty Capital Markets to downgrade JPMorgan shares from Buy to Hold. The JPMorgan bull says that investments in JPMorgan will probably be “dead money” in the near term while headline risks from government and regulatory investigations go on. The megabank faces six separate inquiries from the U.S. Department of Justice, four by the Securities and Exchange Commission, and three by the Commodities Futures Trading Commission, according to its latest filing.