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Home / Business / J.P Morgan's rivals does not want to be able to catch up with soaring stock: Expert

J.P Morgan's rivals does not want to be able to catch up with soaring stock: Expert



One big bank is not like the other.

"J.P. Morgan has set an unbelievable tone," said Quint Tatro, managing director of Joule Financial, said Friday. "JP Morgan did." I mean, they're firing on all cylinders . "

Speaking on CNBC's" Trading Nation, "Tatro said the" greatest thing "about JP Morgan's report shows its net interest income growth, up 8%, and the 2.5% lift in its net interest margin.

Meanwhile, "Wells Fargo clearly missed on revenue, and the only reason profits were because of cost-cutting," Tatro said.

So, while Tatro was not totally bearish on Wells Fargo's prospects, calling it "fine from a dividend standpoint," he had a clear winner in mind

"If you want to hold the financials across the board," he said.

Craig Johnson, managing director and senior technical research analyst at Piper Jaffray, said: "But the winner, in our opinion, is clearly JP Morgan, and I do not see anybody else touching them." had a slightly different outlook.

While the space's other major players, including Goldman Sachs and Citigroup, are reaching out the technician called "very interesting inflection points" that could serve as launch pads for their stocks him as the most promising.

"We need to make those break topside of that, start to reverse some of those downtrends and so move some of those declining moving averages for this to a more sustainable Morgan Stanley.

"When I look at this, we've already done the reversal reversal," Johnson, who runs Piper Jaffray's technical research group, said in the same. Trading Nation "interview. [19659003]

"We're starting to see that this stock has been putting in some very low levels, some lower lows, lower highs in here, and it's really starting to reverse the down trend," he said. "To me, Morgan Stanley's the most attractive-looking name of those names that are going to be reporting next week, so … that would be the one we're focusing on right now."

Shares of Morgan Stanley gained over 4 percent in Friday's trading session. The company is expected to report earnings on April 17.

Disclosure: Joule Financial has positions in J.P. Morgan and Wells Fargo. Piper Jaffray makes a sale of the Citigroup on a principal basis.


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