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JPM

JPMorgan

$93.10

0.59 (0.64%)

09:00
07/14/17
07/14
09:00
07/14/17
09:00

Lake 'encouraged' by loan demand breadth despite lowered core growth target

On JPMorgan's Q2 earnings call, CFO Marianne Lake addressed the fact that the bank now expects 2017 net interest income to be "closer to $4B up rather than the previous $4.5B, but with a potential to be higher if we continue to benefit from tailwinds of lower deposit reprice." She added that "none of [this] changes our conviction that we will ultimately deliver $11B plus of incremental NII as rates normalize, and we are well on our way." Turning to the fact that the bank revised down its full year core loan growth view to 8% year-over-year, Lake said while "we are seeing slightly lower growth than we expected coming into the year, it is only modestly lower." She added that "more importantly, we remain encouraged by the consistency and breadth of client demand across products." In mortgage specifically, a smaller market and more competitive environment means fewer loans met the bank's hurdle rates, said Lake. The bank remains "appropriately focused on quality and not quantity of growth. And as such, loan growth is an outcome, not a target," added Lake.

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JPM JPMorgan
$93.10

0.59 (0.64%)

07/06/17
GSCO
07/06/17
INITIATION
Target $93
GSCO
Neutral
JPMorgan initiated with a Neutral at Goldman Sachs
Goldman analyst Richard Ramsden resumed coverage on JPMorgan with a Neutral and a $93 price target saying it is a best-in-class franchise with a premium multiple.
07/06/17
07/06/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Nike (NKE) initiated with an Outperform at Raymond James. 2. JPMorgan (JPM) initiated with a Neutral at Goldman Sachs. 3. At Home Group (HOME) initiated with a Buy at SunTrust. 4. Logitech (LOGI) initiated with a Buy at Citi. 5. Medtronic (MDT) initiated with an Outperform at William Blair. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/07/17
RBCM
07/07/17
NO CHANGE
RBCM
Vantiv acquisition defensive near-term, strategic long-term, says RBC Capital
After Vantiv (VNTV) agreed to buy Worldpay, RBC Capital analyst Daniel Perlin says that the deal is "defensive today" because of "weakness in big-box mall retail," deflationary grocery pricing, after the Whole Foods (WFM) deal, and "the looming threat of JPMorgan's (JPM) closed-loop network potentially driving down acquiring fees." But the analyst thinks that the deal will certainly create value over the long-term, due to Worldpay's global platform and the fact that its aggregate revenue yields are about 47% higher than those of Vantiv. The analyst keeps a $73 price target and an Outperform rating on Vantiv.
07/11/17
BARD
07/11/17
NO CHANGE
BARD
Big bank set-up not great, would sell into extended rally, says Baird
Baird analyst David George does not see a great set-up for money-center banks heading into Q2 earnings. He said the trade looks crowded and he would be a seller into an extended rally. George said the risk/reward is less attractive following the sector's most recent rally as economic growth remains muted and the pace of NIM expansion may slow. George believes the biggest potential catalyst would be a gradual steepening of the yield curve and pick-up on loan growth.

TODAY'S FREE FLY STORIES

BG

Bunge

$77.16

-1.5283 (-1.94%)

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CHRW

C.H. Robinson

$68.69

-0.81 (-1.17%)

10:30
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Options
Put buyers in CH Robinson as shares fall on earnings »

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10:30
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General news
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STLD

Steel Dynamics

$37.49

0.99 (2.71%)

10:29
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07/20
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XOM

Exxon Mobil

$81.30

0.45 (0.56%)

10:29
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07/20
10:29
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10:29
Periodicals
Exxon Mobil fined $2M over Ukraine-related sanctions violations, Reuters says »

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HD

Home Depot

$146.69

-6.615 (-4.32%)

, LOW

Lowe's

$73.43

-3.4 (-4.43%)

10:27
07/20/17
07/20
10:27
07/20/17
10:27
Recommendations
Home Depot, Lowe's analyst commentary  »

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HD

Home Depot

$146.69

-6.615 (-4.32%)

LOW

Lowe's

$73.43

-3.4 (-4.43%)

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  • 15

    Aug

STLD

Steel Dynamics

$37.49

0.99 (2.71%)

, NUE

Nucor

$58.99

-1.67 (-2.75%)

10:27
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07/20
10:27
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10:27
Hot Stocks
Steel Dynamics CEO says flat rolled enviroment steady despite auto »

Industry will follow…

STLD

Steel Dynamics

$37.49

0.99 (2.71%)

NUE

Nucor

$58.99

-1.67 (-2.75%)

X

U.S. Steel

$24.08

-0.39 (-1.59%)

AKS

AK Steel

$6.52

-0.08 (-1.21%)

03/08/13
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PFE

Pfizer

$33.60

-0.025 (-0.07%)

, MRK

Merck

$63.18

0.555 (0.89%)

10:26
07/20/17
07/20
10:26
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10:26
Hot Stocks
Credit Suisse cuts Pfizer to hold, prefers Merck, J&J »

Credit Suisse downgraded…

PFE

Pfizer

$33.60

-0.025 (-0.07%)

MRK

Merck

$63.18

0.555 (0.89%)

JNJ

Johnson & Johnson

$136.04

0.83 (0.61%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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10:25
07/20/17
07/20
10:25
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10:25
General news
U.S. leading economic index rose 0.6% to 127.8 in June »

U.S. leading economic…

C

Citi

$66.79

0.09 (0.13%)

10:25
07/20/17
07/20
10:25
07/20/17
10:25
Conference/Events
Citigroup to hold a conference call »

CFO Gerspach holds a…

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03/06/13
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STLD

Steel Dynamics

$37.49

0.99 (2.71%)

10:21
07/20/17
07/20
10:21
07/20/17
10:21
Hot Stocks
Breaking Hot Stocks news story on Steel Dynamics »

Steel Dynamics CEO says…

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  • 20

    Jul

TSLA

Tesla

$325.26

-2.98 (-0.91%)

10:21
07/20/17
07/20
10:21
07/20/17
10:21
Hot Stocks
Citi awaits better Tesla entry point as bulls, bears both make good points »

Citi analyst Itay…

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VRTX

Vertex

$159.69

27.53 (20.83%)

10:20
07/20/17
07/20
10:20
07/20/17
10:20
Options
Large call spread in Vertex Pharm after yesterday's surge »

Large call spread in…

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  • 26

    Jul

10:20
07/20/17
07/20
10:20
07/20/17
10:20
General news
Treasury Action: longer yields rotated lower again »

Treasury Action: longer…

STLD

Steel Dynamics

$37.49

0.99 (2.71%)

10:19
07/20/17
07/20
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Hot Stocks
Breaking Hot Stocks news story on Steel Dynamics »

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  • 20

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TSLA

Tesla

$325.26

-2.98 (-0.91%)

, JNJ

Johnson & Johnson

$136.03

0.82 (0.61%)

10:19
07/20/17
07/20
10:19
07/20/17
10:19
Initiation
On The Fly: Top five analyst initiations »

Catch up on today's…click here.

TSLA

Tesla

$325.26

-2.98 (-0.91%)

JNJ

Johnson & Johnson

$136.03

0.82 (0.61%)

TTS

Tile Shop

$14.83

-0.175 (-1.17%)

SBPH

Spring Bank Pharmaceuticals

$14.20

-0.12 (-0.84%)

DISCA

Discovery

$27.18

1.13 (4.34%)

SNI

Scripps Networks

$76.89

9.87 (14.73%)

03/08/13
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  • 02

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PFE

Pfizer

, RAD

Rite Aid

$2.50

-0.1322 (-5.03%)

10:19
07/20/17
07/20
10:19
07/20/17
10:19
Downgrade
On The Fly: Top five analyst downgrades »

Catch up on today's…click here.

PFE

Pfizer

RAD

Rite Aid

$2.50

-0.1322 (-5.03%)

FMSA

Fairmount Santrol

$3.63

-0.245 (-6.33%)

NEWR

New Relic

$47.96

-0.84 (-1.72%)

SND

Smart Sand

$7.87

0.25 (3.28%)

03/08/13
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03/06/13
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NKE

Nike

$59.31

1.54 (2.67%)

, BGS

B&G Foods

$37.08

1.275 (3.56%)

10:18
07/20/17
07/20
10:18
07/20/17
10:18
Upgrade
On The Fly: Top five analyst upgrades »

Catch up on today's…click here.

NKE

Nike

$59.31

1.54 (2.67%)

BGS

B&G Foods

$37.08

1.275 (3.56%)

HPQ

HP Inc.

$18.86

0.155 (0.83%)

RCL

Royal Caribbean

$115.14

2.5775 (2.29%)

BWLD

Buffalo Wild Wings

$122.60

0.65 (0.53%)

03/08/13
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STLD

Steel Dynamics

$37.49

0.99 (2.71%)

10:18
07/20/17
07/20
10:18
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10:18
Hot Stocks
Steel Dynamics sees more stabilized scrap environment in 2H »

Comments from Q2 earnings…

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  • 20

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$NSD

NASDAQ Market Internals

10:17
07/20/17
07/20
10:17
07/20/17
10:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

10:16
07/20/17
07/20
10:16
07/20/17
10:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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10:15
07/20/17
07/20
10:15
07/20/17
10:15
General news
FX Action: The dollar »

FX Action: The dollar…

10:15
07/20/17
07/20
10:15
07/20/17
10:15
General news
Breaking General news story  »

Week of 7/14 EIA Natural…

RAD

Rite Aid

$2.50

-0.129 (-4.90%)

10:11
07/20/17
07/20
10:11
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10:11
Hot Stocks
Rite Aid expands Naloxone dispensing program to Michigan, South Carolina »

Rite Aid announced that…

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