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Bank Earnings Preview: Analyst Reveals 3 Favorites, But Downgrades JPMorgan And 2 Others

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As Wall Street gears up for the Q2 earnings season, all eyes are on three major banks set to report their results on Friday, July 12: JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), and Wells Fargo & Co. (NYSE:WFC).

Wolfe Research recently released a comprehensive analysis of the upcoming bank earnings, highlighting potential winners and underperformers in the sector.

Steven Chubak, analyst at Wolfe Research, shared updated preferences on bank stocks in a detailed note this past Sunday.

At the start of the year, Wolfe Research was bullish on banks benefiting from a prolonged period of high-interest rates, particularly JPMorgan. However, with the Federal Reserve likely to begin easing rates, the outlook has shifted.

Wolfe Research’s Top Picks

Chubak’s revised strategy now emphasizes banks and brokers with unique Net Interest Income (NII) advantages and attractive valuations relative …

Full story available on Benzinga.com

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