** JPMorgan Chase JPM.N reported a record Q2 profit on Tuesday, as a wave of big-ticket IPOs and dealmaking helped drive investment banking fees to their highest levels since 2021, while its trading desk capitalized on volatile markets

** Median PT of 26 brokerages covering the stock is $353.50 - LSEG-compiled data

A FORTRESS OF A BALANCE SHEET

** Jefferies ("hold," PT: $350) says JPM is supported by its "unmatched scale and capital flexibility" and expects it to serve as a "flight-to-quality" name during periods of economic stress

** RBC Capital Markets ("outperform," PT: $370) says co's diversified business model combined with the billions of dollars of investments made over the last decade have resulted not only in a fortress balance sheet but also a highly profitable diversified banking model

** KBW ("outperform," PT: $384) says "opportunities to buy best in class banks at reasonable valuations don't come along that often, and we would be adding to JPM at current levels"
** Morningstar (fair value: $320) says the current macroeconomic backdrop could not be much more conducive for the banking giants