JPMorgan shares pop after bank says it will reach key returns target earlier than planned

(CNBC) JPMorgan Chase on Monday reversed course on guidance it gave in January, saying the bank could achieve a key performance target this year after all. The lender said that a 17% return on tangible common equity “remains our target and may be achieved in 2022,” according to a presentation. That’s a switch from earlier this year, when CFO Jeremy Barnum warned that headwinds, including rising costs, would cause the bank to miss its target for the next one to two years.

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