JPMorgan Stock Pops After Raising 2022 Interest Income Forecast
2022.05.23 15:36
JPMorgan (JPM) Stock Pops After Raising 2022 Interest Income Forecast
By Senad Karaahmetovic
JPMorgan (NYSE:JPM) stock price is up almost 2% in pre-open Monday after the financial giant offered an optimistic profit forecast at its Analyst Day.
JPMorgan said it now expects net interest income (NII) to come in at $56 billion in 2022, up from the $50 billion outlook in January. The company said earlier it is looking to achieve a “couple billion” more than the $53 billion it hit in 2022.
JPM also reaffirmed its target of a 17% ROTCE, which may be hit as early as this year. The bank also said it expects its investment spending to rise moderately in 2023, while the cost outlook for this year was unchanged at $77 billion.
The company also sees CET1 Ratio at between 12.5% and 13.0%.
