Skip to content

JPMorgan Defends Regional Banks Even as Negative Sentiment Hits 2008 Highs

  • Analyst upgrades Western Alliance, Zions, Comerica on selloff
  • Sees room for significant upside in the wake of the routs

The extreme skepticism over regional bank stocks has gone so far that it prompted one of the few holdouts on Wall Street to turn bullish on a trio of the hardest-hit lenders.

JPMorgan analyst Steven Alexopoulos said the last time he saw this many bearish investors was toward the end of the Global Financial Crisis, right before legislators intervened in the form of the Troubled Asset Relief Program, or TARP, which quickly flipped sentiment around.