Month after month, JPMorgan Chase endures negative headlines this week came the announcement that the bank is paying $2.6 billion to settle allegations related to Bernard Madoff's Ponzi scheme yet investment analysts remain bullish on its stock.
Yes, its share price fell a bit after word got out in October that it had agreed to pay $13 billion to settle mortgage-related claims, but it rebounded quickly and is now up roughly 35% over the last year. And in the view of Keefe, Bruyette & Woods analyst Christopher Mutascio, the shares are likely to keep rising.
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