Readers of this space know that the investment thesis offered here favors large-cap companies with demonstrated business models that have a competitive advantage in established markets, preferably with a favorable global trend as a support. Still, every once in awhile an exception is made, in this case to get-ahead-of the-curve regarding a sector's recovery, and with the aforementioned in mind, JP Morgan Chase is worth an evaluation.
JPMorgan Chase (NYSE: JPM) is the third largest financial services firm in the United States.
Analysts like JPMorgan's solid organic growth prospects, diverse product lines and wide geographic footprint. JPM has more than 3,000 retail bank branches.
Equally significant, analysts believe JPMorgan's subprime related asset exposure is manageable: it's in a much better position than its peers. Furthermore, analysts expect strong growth in asset management fees and in treasury/securities services to offset slumps in investment banking and credit quality. The Reuters F2007/F2008 EPS consensus estimates for the company are $4.18/$4.58.
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