‘Goliath Is Winning’ – Wells Fargo bank analyst Mike Mayo upgrades JP Morgan Chase stock
Wells Fargo analyst Mike Mayo upgraded his JPMorgan Chase & Co. stock rating to overweight from equal weight on March 13, 2023. About the move, he said:
JPM epitomizes our theme of ‘Goliath is Winning’, which should benefit both offense (market share gains) and defense (more diversified) in these less certain times.
Obvious sentiment, but worth sharing. Goliath Is Winning in banking.
On a related note, here’s former Goldman chief Lloyd Blankfein with a similar big bank sentiment:
A few banks may have issues like SVB, but only a few. Govt actions removed reasons for bank runs. Biggest banks have much tougher regulation and stress testing. Anxiety and volatility high, but sharply lower interest rates, fed likely on hold, are strong positives for markets.
— Lloyd Blankfein (@lloydblankfein) March 13, 2023