J.P. Morgan Chase & Co (JPM) is expected to host a customer conference call today with a focus on recent volatility in global markets.
On August 14th yields on 2-year and 10-year US Treasuries inverted for the first time since June 2007, an occurrence which is considered as a sign that an economic recession could be on the horizon.
J.P. Morgan Chase shares closed higher for a third consecutive trading session in New York on Monday. The stock went up 0.90% ($0.97) to $108.69, after touching an intraday high at $109.75, or a price level not seen since August 13th ($110.33).
Shares of J.P. Morgan Chase & Co have risen 11.34% so far in 2019 compared with a 16.63% gain for the benchmark index, S&P 500 (SPX).
In 2018, J.P. Morgan’s stock went down 8.72%, thus, it again underperformed the S&P 500, which registered a 6.24% loss.
The Wall Street bank is to discuss systematic flows and liquidity dynamics in equity markets, convexity hedging in interest rate markets and to what extent is high-frequency trading a factor behind decreases in market depth.
“In the wake of a rather violent decline in yields, inversion of the curve, and volatility in equity markets, we consider the role of poor liquidity and systematic flows in exacerbating these market moves,” an invitation from J.P. Morgan Cross-Asset & Derivatives Strategy stated.
Analyst stock price forecast and recommendation
According to CNN Money, the 25 analysts, offering 12-month forecasts regarding J.P. Morgan Chase & Co’s stock price, have a median target of $120.00, with a high estimate of $141.00 and a low estimate of $85.00. The median estimate represents a 10.41% upside compared to the closing price of $108.69 on August 19th.
The same media also reported that at least 13 out of 28 surveyed investment analysts had rated J.P. Morgan Chase & Co’s stock as “Hold”, while other 13 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.
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