J.P. Morgan
J.P. Morgan is the investment banking and markets brand of JPMorgan Chase & Co., the New York-based bank holding company. Its Global Research unit was named Extel's Top Global Research Firm and No. 1 Global Equity Research Team in 2025.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 1,30212M
- Actions
- 3,60412M
- Ratings / Price targets
- 3,598 / 6
- Upgrades / Downgrades
- 213 / 253
- Buy-rated
- 52%of 1,300 rated
- Median upside
- +27.6%
- Targets raised / lowered
- 3 / 0
- On record
- Dec 2011 – Sep 2026
Overview
J.P. Morgan Global Research covers about 5,000 companies in 55 countries (2024) and sends clients more than a million research emails a day. Extel (formerly Institutional Investor) named it Top Global Research Firm, No. 1 Global Equity Research Team and No. 1 Global Fixed Income Research Team in 2025, its fourth such sweep in five years. J.P. Morgan's research disclosures (2024) tie analyst pay to factors including research quality and accuracy, client feedback and overall firm revenues.
The firm descends from Drexel, Morgan & Co., founded in New York in 1871 by J. P. Morgan and Anthony Drexel and renamed J.P. Morgan & Co. in 1895. The Glass–Steagall Act forced its securities business to be spun off as Morgan Stanley in 1935. J.P. Morgan & Co. merged with Chase Manhattan in 2000 to form JPMorgan Chase, which absorbed Bank One in 2004 and Bear Stearns and Washington Mutual in 2008.
Milestones
- 1871
Drexel, Morgan & Co. founded in New York
- 1895
Renamed J.P. Morgan & Co.
- 1935
Securities business spun off as Morgan Stanley
- 2000
Merges with Chase Manhattan to form JPMorgan Chase
- 2008
Acquires Bear Stearns and Washington Mutual
- 2025
Sweeps Extel global research firm and team rankings
Firm facts
- Legal name
- J.P. Morgan Securities LLC
- Type
- Bulge bracket
- Founded
- 1871
- Headquarters
- New York, United States
- Parent
- JPMorgan Chase & Co.
- Listing
- NYSE: JPM
- Chairman and CEO, JPMorgan Chase & Co.
- Jamie Dimon
- Head of Global Research
- Hussein Malik
- Rating scale
- OverweightNeutralUnderweight6–12 months
- Also filed as
- JP Morgan
- Website
- jpmorgan.com
Research philosophy
Data is the backbone of research.
In a 2024 video interview, Global Research head Hussein Malik described research as the first stage of the trading cycle and attributed the unit's strength to collaboration across teams. He expected clients to use automated tools to screen research initially, while continuing to rely on analysts to interpret it.
Rating methodology
Stocks are rated Overweight, Neutral or Underweight against the analyst's coverage universe over six to twelve months.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Abercrombie & Fitch Co.ANF | Neutral | — |
 Colgate-Palmolive CompanyCL | Overweight | $86 |
 Duolingo, Inc.DUOL | Neutral | — |
 e.l.f. Beauty, Inc.ELF | Overweight | $70 |
 Steel Dynamics, Inc.STLD | Neutral | $117 |
 The Clorox CompanyCLX | Underweight | $153 |
 GE Vernova Inc.GEV | Overweight | $330 |
 Group 1 Automotive, Inc.GPI | Neutral | — |
 PACCAR IncPCAR | Overweight | — |
 Alcoa CorporationAA | Neutral | — |
Most active analysts
- Richard Shane3 notesESNTHRZNMFA
- Stephen Tusa2 notesMMMPNR
- Matthew Boss2 notesBBWIURBN
- Jessica Fye2 notesMRNA
- Samik Chatterjee2 notesAAPLCIEN
- Jeremy Tonet2 notesMPLXPAA
Recent actions
| Date | Stock | Rating action | Rating |
|---|---|---|---|
| Sep 22 |  Ionis Pharmaceuticals, Inc.IONS | Reiterate | Overweight |
| Sep 21 | WAWestinghouse Air Brake Technologies CorporationWAB | Reiterate | Neutral |
| Sep 21 |  T-Mobile US, Inc.TMUS | Reiterate | Overweight |
| Sep 21 | NONoah Holdings LimitedNOAH | Reiterate | Neutral |
| Sep 21 | SMSmartstop Self Storage REIT IncSMA | Reiterate | Underweight |
| Sep 21 | EXExtra Space Storage Inc.EXR | Reiterate | Neutral |
| Sep 21 | PSPublic StoragePSA | Reiterate | Neutral |
| Sep 21 | SRScholar Rock Holding CorporationSRRK | Reiterate | Overweight |
| Sep 18 |  CarMax, Inc.KMX | Reiterate | Neutral |
| Sep 18 | CACAVA Group, Inc.CAVA | Reiterate | Overweight |
| Sep 18 |  Sociedad Química y Minera de Chile S.A.SQM | Reiterate | Neutral |
| Sep 18 |  Crown Holdings, Inc.CCK | Upgrade | Neutral →Overweight |