1 Wall Street analysts see JPMorgan Chase shares rising to $215. Is it worth buying near $183?

primeJPMorgan Chase Bank, N.A. (NYSE: JPM)It is also a strong investment. According to one analyst, the company's stock can easily generate double-digit returns. Read on to find out what he has to say about this famous American bank.

A bullish view in a bear market

In some ways, the timing is not right to be bullish on JPMorgan. After all, the analysis came just hours after JPMorgan announced its first-quarter results. In that report, its guidance for full-year net interest income (NII) - a key item for the lender - was below the consensus estimate of forecasters.

Speaking of prognosticators, CFRA Research's Kenneth Leon also predicted that the company's shares would bounce back from the post-earnings sell-off (the company's shares fell more than 6% the day of the earnings release). He reiterated his buy recommendation and $215 per share price target, which now implies nearly 181 TP3T of upside over the next 12 months.

Leon explained his reasoning in a research note, writing: "We believe that whereas interest rates and a healthy U.S. economy support higher loan volumes and the impact on net interest income (NII), JPM's guidance on NII is conservative. The expert also said he expects investment banking fees, a key component of JPMorgan's business, to be much higher this year than in 2023.

Large, strong and growing solutions

JPMorgan Chase is a very well-managed and well-respected bank, but it can sometimes be the victim of high expectations.

JPMorgan's first quarter performance was impressive across all metrics, with double-digit year-over-year growth in a number of key metrics, including NII, total loan volume, and, as Leon expects, investment banking fees. If you believe in this economy, then you should believe that this bank is capable of serving it well. Leon's viewpoint strikes me as correct.

Should you invest $1,000 in JP Morgan now?

Consider this before buying shares of JPMorgan Chase:

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JPMorgan Chase is an advertising and caring partner of The Ascent, a subsidiary of The Motley Fool.Eric Volkman does not hold any of the above shares.The Motley Fool holds a recommendation for JPMorgan Chase.The Motley Fool has a disclosure policy.

1 Wall Street Analysts Think JPMorgan Chase Shares Will Rise to $215. JPMorgan Chase stock price will rise to $215.