JP Morgan downgraded by KBW: 'Estimates cannot support current valuation'

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J.P. Morgan stock is up more than 37 percent this year, but analysts at Keefe Bruyette & Woods don’t expect a repeat of that performance in 2020.

The firm downgraded the stock to “market perform” from “outperform,” and placed a target price of $135 on the shares, which were trading for $134.41 at the close of the market on Monday.

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