Analysts are bullish on JPMorgan
The financial services company is expected to show 'modest improvement' in Friday's third-quarter results.
The earnings season is upon us, and JPMorgan Chase (JPM) is the first of the big U.S. banks scheduled to announce third-quarter results Friday. The company's report could set the tone for other financial institutions.
Analysts expect to see earnings of $1.21 per share -- up 18.6% from third-quarter earnings in 2011.
JPMorgan took a multibillion-dollar hit earlier this year after the so-called London Whale derivatives trading losses, but it still exceeded most expectations for the second quarter. JPM shares have risen more than 30% since midyear, and Oppenheimer analyst Chris Kotowski reportedly expects the company to have a slightly stronger third quarter.
"We are modeling the 'special' items to offset any potential hangover from the London Whale incident," Kotowski said in a note to his clients. "We expect another quarter of modest improvement in net charge-offs."
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