JPM · News · 20261021N

Competition and Market Share

JPMORGAN CHASE & CO · 2026-10-21 · Importance 20 · Surprise 24

The five largest investment banks generated approximately $67 billion in equities revenue through September 30, already $7 billion above the full-year 2025 total. JPMorgan, Goldman Sachs and Morgan Stanley together captured approximately $52 billion, or nearly 80%, of that combined revenue. The reporting attributes the strong positioning to the global artificial-intelligence stock boom, relaxed capital rules and increased lending to hedge funds.

Key facts

• JPMorgan expects Corning to reach the high end of its previous third-quarter 2026 guidance and expects high-teens revenue growth to continue through 2026 and 2027; JPMorgan lowered its price target on the stock to $165 from $170, valuing Corning at 27 times its 2028 earnings estimate, down from 30 times previously. source
• JPMorgan analyst Doug Anmuth doubled his price target for SpaceX to $500 from $240. source
• JPMorgan Chase & Co. raised its price target for 3M from $185.00 to $191.00 while maintaining an "overweight" rating. source
• JPMorgan Chase & Co. increased its price target for Sunstone Hotel Investors from $10 to $11 while maintaining an "underweight" rating. source
• JPMorgan Chase & Co. increased its price target for Ryman Hospitality Properties from $129.00 to $138.00 while maintaining an "overweight" rating. source
• JPMorgan reduced its price target for HA Sustainable Infrastructure Capital from USD 51.00 to USD 45.00 while maintaining an overweight rating. source
• JPMorgan Chase & Co. lowered its price target for Netflix from $85 to $81 while maintaining an "overweight" rating. source
• JPMorgan raised its price target for MetLife from USD 108 to USD 110. source