Investors should purchase JPMorgan Chase shares because its financial results will top expectations in 2017 due to a better business environment and Donald Trump's agenda, according to Barclays, which reiterated its overweight rating on the bank.
"We are attracted to JPM's competitive positioning and believe it has addressed a great deal of its litigation concerns. We see the greatest sources of potential upside being driven by higher loan growth and capital markets," analyst Jason Goldberg wrote in a note to clients Tuesday. "JPM is our new top pick."
Goldberg raised his JPMorgan Chase price target to $100 from $79, representing 16 percent upside from Friday's close. The shares rose more than 30 percent in 2016 with most of those gains coming after the election.