Morgan Stanley analyst Betsy Graseck raised her 2022 EPS estimate for JPMorgan (JPM) by 2%, or 34c, stating that she expects the bank to reach top 5 in the 15-20 new markets it previously said it will use a part of its tax savings reinvestments to enter. The 34c in EPS she estimates JPMorgan can add by building out its presence in 20 new markets by 2022 is "far more compelling" than using the same amount of money to buy back stock, which would increase 2022 EPS only 5c, said Graseck. The analyst sees about a third of JPMorgan's new deposit share gains to come from Wells Fargo (WFC) and cut her 2022 EPS forecast for the latter by 1.2%. Graseck keeps an Overweight rating on JPMorgan ahead of the bank's February 27 investor day and increased her price target on the stock to $136 from $133.