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JPMorgan Increases 2023 Revenue Target to $84B After First Republic Acquisition

JPMorgan Chase has raised its 2023 revenue target to $84 billion after acquiring First Republic earlier this month. The bank revealed the projected performance at an investor presentation, but noted that deposits and economic uncertainty could impact its forecast. JPMorgan acquired First Republic after winning a weekend auction for its assets, with observers suggesting the acquisition could enhance the bank's earnings and aid its push for increased high-net-worth clientele. However, some critics have voiced concern that JPMorgan could become too powerful to control with the acquisition.


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