Top Stock to Buy #2 — JPMorgan Chase (JPM)
JPMorgan Chase (NYSE:JPM) has over $2.3 trillion in assets and has increased earnings every year since 2008. It is expected to earn $4.67 this year compared to $3.96 in 2010, and estimates are for an increase to $5.37 in 2012. JPM is considered the most solid of all major banks by a broad range of analysts.
Technically JPM appears to have double-bottomed at about $28. A break through the bearish resistance line at $34 could produce a quick run to its 200-day moving average at $38. Longer term the stock should appreciate as the economy improves, eventually trading close to $50. The company pays a dividend of $1 per share for a yield of 3%.
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