," Tatro said Friday. JPMorgan shares fell by more than 8% last week to close at $147.92 on Friday. They were up about 0.5% in Monday's premarket.
After a successful year for financial stocks, those who missed out on the rally are finally getting a chance to buy at lower levels, he said. "You've got to be patient. Now you're getting the pullback," Tatro said. "JPMorgan was trading well over two times book [value]. That's way too rich. Now we're around 1.8. I think anywhere in here, you start to nibble, pick up shares of JPMorgan. It's a bargain.", but the possibility of higher interest rates pushed him to look elsewhere for gains.
"I do think that 1.25% is in the cards here for the 10-year yield, and in the near term, that could weigh on the financials. But I think there should be a tremendous buying opportunity on weakness," Baruch said in the same "Trading Nation" interview.IBM"IBM is not a darling in tech by any means. It really gets kind of swept aside," he said, highlighting the company's "tremendous strides forward in the past couple years for the cloud.
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