J.P Morgan Chase's Stock On Course To Close At 15-year High

J.P. Morgan Chase & Co.'s stock rallied 2% in afternoon trade, putting on course to close at a 15-year high Tuesday, after the moneycenter bank reported better-than-expected first-quarter earnings. The stock is also heading for a sixth-straight gain, the longest win streak since the eight-session stretch ending Dec. 30. It has run up 4.6% this month, and 16% since the end of January, and is set to close with a year-to-date gain for the first time in 2015. Jefferies analyst Ken Usdin reiterated his buy rating and stock price target of $68, saying the fact that JPMorgan Chase beat earnings expectations is "more impressive" given the fact that it took a 13 cents-a-share charge for litigation expenses. The stock was trading at $63.30, which would be the third-highest close in its history, just behind the March 24, 2000 close of $64.13 and the March 23, 2000 all-time high of $65.67.

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