JPM made some tiny job cuts last week and has trimmed a few tech staff, but is still busy hiring. If Graseck is right, now might be a good time to get deferred bonuses delineated in JPMorgan stock.
The bank is" an underappreciated rate play.” She says it will benefit from stronger net interest income, along with improved fees and efficiencies. High interest rates are good for JPMorgan, says Graseck. Her new price target for the bank's stock implies at 24% increase this year alone. But Morgan Stanley's banking analysts have other ideas: they think JPMorgan is a great bet.īetsy Graseck, Morgan Stanley's global head of banks and diversified finance research, is predicting that JPMorgan's market cap could more than double to $1 trillion by 2030. Were it not for Morgan Stanley's apparent circumspection in the last bonus round, everyone might be rushing to the house of Gorman now. Morgan Stanley's share price fell a mere 1% in 2022 (compared to Goldman's 5%) as MS was vaunted for the stability of its own asset and wealth management revenues. While Goldman struggles against its semi-self inflicted wounds, some of its big US rivals are in finer fettle. All will become clear in around 24 hours. The hope is that AWM will become the engine that smooths out Goldman's lumpy trading revenues and generates profits irrespective of the prevailing winds. Bloomberg predicts that Goldman's emphasis will be on the broader asset and wealth management (AWM) unit tomorrow instead. Goldman has already said it's pulling back from consumer banking in an attempt to halve losses in the unit to a mere $1bn this year. Tomorrow is Goldman Sachs' investor day and in a timely reminder of its consumer banking problems, the firm disclosed an expanded probe into its credit card business on Friday.
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