Current forward PE is a 'cheap' 8. Is the market tired of JPM? Or is Mr Market just stupidly under-valuing one of the biggest financials in the world, as it did AAPL and INTC until recently? Forward yield is a reasonable 2.7%, but is the market suggesting this will be cut, with such a low PE? Profit margins are a very attractive 21%. If JPM can post earnings with at least a 17/20% profit margin, then the market is significantly undervaluing the company.
JPM, daily
Excellent support around $43, which should hold, even if main market drops to SP'1370 this Mon/Tuesday. From a cycle perspective, JPM looks ready for a new up move, first target would be 47/48 later this month.
Watch for earnings, this Friday'13th - lucky JPM?, (pre-market 7am EST), I believe.
