Credit Suisse sees JPMorgan shares rallying another 12%, to $103

Jamie Dimon, chief executive officer of JPMorgan Chase & Co.
Jason Alden | Bloomberg | Getty Images

Credit Suisse has raised its forecast for JPMorgan's stock price after the bank posted a better-than-expected earnings report last Friday.

Credit Suisse analyst Susan Roth Katzke highlighted a number of factors in the price target raise, including "double digit retail deposit growth, better than expected investment banking, commercial banking and asset management revenues and a rebound in the card revenue rate."

"More important, to us, was management's confidence in the sustainability of economic growth as baseline support to business expansion and a continued determination to gain profitable market share," added Katzke.

More In Pro News and Analysis

CNBC ProWolfe Research calls Robinhood uninvestable: 'Do not YOLO this stock'
CNBC ProThis is why GM shares fell on increased guidance and record second-quarter operating profit
CNBC ProHere are Thursday's biggest analyst calls of the day: Apple, Tesla, Robinhood, Walmart, AMC & more