JPMorgan on Track for $1 Trillion Market Cap as Analysts Weigh In

JPMorgan Chase & Co. is on track to become the first bank to reach a market capitalization of $1 trillion, according to a Bank of America analyst.

The analyst notes that JPMorgan's shares would continue to trade at a relatively attractive discount to the broader market even at this valuation, making them difficult for investors to ignore.

This is because the 11 companies in the S&P 500 with market capitalizations above $1 trillion have significantly higher price-to-earnings ratios than JPMorgan, which trades at around 15 times earnings.

Wall Street analysts are divided over whether JPMorgan shares can continue to rise. While none of the analysts currently recommend selling the stock, the average analyst price target stands at $375, suggesting that reaching a market capitalization of $1 trillion may not happen within the next 12 months.