Banks Draw Buy Ratings as Markets Rout Deepens

Jefferies initiates coverage as major financials face correction pressures and Middle East tensions

Financial Sector Overview

Financial markets continued to deteriorate Thursday as the Nasdaq Composite slipped into correction territory, now 10.6% off its all-time high from last October. The ongoing Middle East conflict has driven haven flows into the dollar, which is on track for its best month since July with a gain of more than 2% in March. Diminished expectations for Federal Reserve rate cuts, fueled by war-driven energy price increases, have scrambled Wall Street's currency playbook.

Banks & Lending

Jefferies initiated coverage on major banks Friday, issuing Buy recommendations on Bank of America ($BAC), Citigroup ($C), and Wells Fargo ($WFC). Former Berkshire Hathaway investment manager Todd Combs, who left his role overseeing investments and leading Geico at year-end, has opened up for the first time about his new position running money for JPMorgan Chase ($JPM) CEO Jamie Dimon. Charles Schwab ($SCHW) saw its analyst fair value estimate edge slightly lower to $120.32 from $120.68, though Street research has turned more constructive on the firm's business model, earnings power, and capital return story.

Payments & Fintech

Mastercard ($MA) has hired investment bankers to manage the potential sale of its payments unit acquired from Nets, which could draw interest from private equity groups. The company continues to draw investor attention as it weighs recent share performance against fundamentals including $32.8 billion in revenue and $14.97 billion in net income. Visa ($V) launched its Enhanced Subscription Manager in North America, a new service enabling consumers to track, switch, and cancel recurring payments inside banking apps, with plans to extend the service to Latin America and the Caribbean following the initial rollout.

Capital Markets & Insurance

The IPO market is heating up with multiple high-profile tech companies planning listings. Anthropic, maker of the Claude chatbot, is considering going public as soon as October and has held early discussions with Goldman Sachs ($GS), JPMorgan Chase ($JPM), and Morgan Stanley about taking leading roles on the potential offering. SpaceX is telling prospective IPO investors to expect briefings in April from company executives as advisers scramble to file for what could be the biggest listing of all time. Lancashire Holdings saw its fair value estimate edge slightly lower from £6.78 to £6.69, with fresh analyst targets clustering around £6.76 on the bullish side and £5.90 on the bearish side.

Looking Ahead

Market participants will continue monitoring Federal Reserve policy signals as diminished rate-cut expectations reshape the outlook for bank profitability and lending conditions. The scheduled April investor briefings for SpaceX and potential October listing for Anthropic will test capital markets appetite amid ongoing geopolitical tensions. Jamie Dimon's recent comments suggest he sees a faster AI shock coming, with government's role potentially shaping the technology's job market impact.

Important Disclaimer — Not Investment Advice

Disclaimer: This article is provided by Money365.Market for general information and educational purposes only. It is not financial advice, a personal recommendation, or an inducement to buy, sell, or invest in any security or product. Capital is at risk and the value of investments can go down as well as up; past performance does not indicate future results. You should seek independent advice from an FCA-authorised adviser before making any financial decision.

Read the full disclaimer — 8 further points, including total-loss risk, our regulatory status and conflicts of interest

Nothing here is an offer or a solicitation to buy or sell anything, and reading it creates no advisory or fiduciary relationship between you and Money365.Market. Any decision you take is your own.

You can lose money — including all of it. Individual companies can and do fail, and some of the assets discussed can fall to zero. Only commit money you can afford to lose, and never borrow to invest on the strength of anything you read here.
Forecasts are opinion, not fact. Any valuation model, scenario, fair-value range, estimate or other forward-looking statement is illustrative, rests on assumptions that may prove wrong, and is never a price target, a forecast of actual outcomes, or a promise of any return.
Published at a point in time. Figures were believed accurate on the publication or last-updated date shown above and are not maintained afterwards; we are under no obligation to update them. Market and company data comes from third-party sources and is provided without warranty of accuracy, completeness or timeliness.
Automated content. This brief was compiled by an automated pipeline from validated news and market-data sources and passed through editorial and compliance checks. Automated content can still contain errors — verify anything you intend to rely on.
We are not regulated. Money365.Market is not authorised or regulated by the UK Financial Conduct Authority, is not registered with the U.S. Securities and Exchange Commission or FINRA as an investment adviser or broker-dealer, and is not a tax adviser. We hold no licence to give personal financial advice and do not do so.
Interests and independence. Money365.Market is not affiliated with, endorsed by or sponsored by any company, fund, exchange or platform mentioned, and is not paid to feature them. The author may hold positions in securities or assets discussed. The site earns revenue from advertising, subscriptions and, where labelled, affiliate links; this does not influence what we publish.
Your jurisdiction matters. Tax treatment, contribution limits, product availability and investor protections differ by country and can change. Speak to a qualified tax professional for tax matters, and to a locally licensed adviser if you are outside the UK.

Full terms: Disclaimer · Terms of Service · Privacy Policy