JPMorgan Chase could become the first bank to reach a $1 trillion market capitalization, according to Wells Fargo. The bank raised its price target to $390, implying more than 7% upside from Friday’s close. JPMorgan posted record profits last quarter, driven by a surge in trading and dealmaking activity. Analyst Mike Mayo forecasts the bank could reach a $2 trillion market cap in seven to eight years, thanks to its investment capacity and growth strategy. Fifteen of the twenty-six analysts covering the stock recommend buying.
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