"Overall, we have trimmed our price targets by 7 percent on average, reflecting updates in operating guidance, the outlook for near-term capital spending and a change in our long-term currency modeling assumption from C(anadian) $1.05/US$ to parity, which drove much of the average price target revisions of negative 12 percent among our Canadian-denominated names."
JPMorgan's outlook takes into account its analysts' view "that investors will begin to put capital back to work by early 2012 — if not sooner — but will also be more inclined to return to names with a combination of attractive upside, expanding returns, and growing portfolios but with some level of downside protection and attractive dividend yield."
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J. P. Morgan does and seeks to do business with companies covered in its research reports.
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