Street View: JPM's strong capital position and fee growth to allay NII headwinds
** JPMorgan Chase JPM.N on Friday beat profit expectations in the third quarter, fueled by gains in investment banking and rising interest payments
** Median PT of 24 brokerages is $231 - LSEG
NON-NII EPS LEVERS MITIGATING RATE-DRIVEN PRESSURES
** Piper Sandler("overweight," PT: $240) says is confident in JPM's ability to absorb lower net interest income (NII) and still generate "best-in-class profitability with a very strong risk profile"
** RBC Capital Markets ("outperform," PT: $230) expects JPM will continue to reward long-term shareholders with above-average profitability and returns; says co is poised well to handle the Basel III Endgame proposal changes
** BofA Global Research ("buy," PO: $240) says a gradual rate cut cycle should be manageable for JPM given its non-NII EPS levers mitigating any rate-driven NII pressures
** Brokerage also cites JPM's strong capital position with its robust capital generation as a significant competitive advantage that would lead to market share gains
** KBW ("market perform," PT: $216) says JPM's strong capital markets revenue will partially offset lower NII expectations
Reporting by Gokul Pisharody in Bengaluru
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