JP Morgan Sweeps Financials Higher

JP Morgan's Vivek Juneja raised target prices on six US bank stocks on Sunday. The move covered WFC, USB, TFC, STT, RF, and PNC. All six targets moved up by $0.50 to $5.00. The ratings themselves stayed unchanged, ranging from Hold to Sell on most names.

The most notable lift went to STT. Its target jumped from $187.50 to $192.50. RSG, the waste management group, also got a bump. JP Morgan's Tami Zakaria raised its target to $265 from $245, a $20 increase while keeping a Hold rating.

On the downside, ARES saw its target cut. JP Morgan's Kenneth Worthington trimmed the price target from $155 to $154, maintaining a Buy. The trim is modest but follows a broad re-rating of alternative asset managers.

SYK saw a consensus target price reduction, dropping from $358.58 to $350.42. The change reflects a broad re-assessment among analysts covering the medical devices group.

The wave of JP Morgan financial sector revisions is the clearest pattern today. Most moves are incremental. The bank appears to be refreshing post-earnings models across its coverage universe. No outright upgrades or downgrades featured in the batch, suggesting analysts remain cautious about taking firm directional stances on US financials heading into the final months of 2026.