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JPMorgan (JPM) Stock Downgraded at Goldman Sachs

NEW YORK (TheStreet) -- Shares of JPMorgan Chase (JPM - Get Report) are lower by 0.22% to $58.79 in mid-morning trading on Monday, following a rating downgrade to "neutral" from "buy" at Goldman Sachs this morning.

The firm also lowered its price target to $69 from $75 on the stock.

The downgrade comes as Goldman Sachs believes current valuation is more accurately reflecting the strength in the company's core franchise, the Fly reports. The firm also cited the outperformance of JPMorgan's shares as a reason for the downgrade.

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JPMorgan is a New York City-based financial holding company. JPMorgan is engaged in the business of investment banking financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the...