JPMorgan and Wells Fargo: Analyzing Bullish Trends Ahead of Q3 Earnings

In the United States, analysts and investors are closely monitoring the stock performance of JPMorgan Chase & Co and Wells Fargo & Co as they approach their third-quarter earnings reports scheduled for October 11, 2024. Both banks exhibit strong technical indicators, but JPMorgan appears to have a more favorable outlook based on analyst ratings and stock performance. Analysts predict JPMorgan will report earnings of $4.01 per share on revenues of $41.66 billion, with a current stock price of $213.42, which is above its consensus target price of $207.17. The consensus rating for JPMorgan is 'Overweight', with an average price target of $229.67, indicating a potential upside of 7.53%. In contrast, Wells Fargo is expected to report earnings of $1.28 per share and revenues of $20.4 billion, with its current share price at $57.54, below the consensus target of $59.80. The consensus rating for Wells Fargo is 'Neutral'. Despite these differences, Wells Fargo's technical indicators are also positive, with its stock price above its eight, 20, and 50-day simple moving averages, as well as its 200-day moving average of $55.85. Overall, while both banks show bullish characteristics, JPMorgan's stronger technical edge and better analyst ratings position it as the more bullish stock ahead of the earnings reports. Investors are likely to keep a close eye on the upcoming earnings announcements to gauge the future performance of both banks.