JPMorgan Chase (JPM)

We are downgrading our rating on <b>JPMorgan Chase </b>(<a href=&quot;http://www.zacks.com/stock/quote/jpm&quot;>JPM</a>) shares to Underperform. <p> Fourth quarter earnings were well ahead of the Zacks Consensus Estimate, aided by better-than-expected results at its Investment Bank segment. However, persistent high levels of consumer credit costs and increased provisions for credit losses were among the major negatives. <p> While we anticipate continued synergies from the company&#39;s diversification and strong capital position, we believe increasing provisions and a pressured credit quality will drag down future earnings.

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