Bears in control of JPMorgan stock: can Q3 earnings change that?

Impact · against what's priced in

The upcoming Q3 earnings report provides a catalyst to test if JPMorgan's recent investment banking growth is a structural shift or a cyclical peak. While technicals are bearish, the bullish options skew suggests a market appetite for a positive surprise that could validate the bull case the current price currently discounts.

JPM+0.20

Challenges what's priced in

The price assumes

The Commercial & Investment Bank sustaining its recent 11.9% growth as a structural shift rather than a cyclical rebound

The market currently views recent CIB growth as a cyclical peak, but the expectation of mid-to-high teens growth in investment banking and trading for Q3 provides a potential data point to prove a structural shift.

What JPM's price assumes · Aug 26

• JPM▲57%
• banking
• earnings
• dividends
• investment banking
• options
• technical analysis

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