‘The Math Just Doesn’t Work’ – Analyst Hits JPMorgan Chase and Goldman Sachs With Downgrade, Says Downside Risk Not Factored In

HSBC is detailing its major downgrade of JPMorgan Chase, Goldman Sachs and Bank of America. On Tuesday, HSBC dropped its recommendation on JPMorgan (JPM) and Goldman Sachs (GS) from hold to reduce. The firm also downgraded the recommendation on Bank of America from buy to hold source: https://dailyhodl.com/2025/07/10/the-math-just-doesnt-work-analyst-hits-jpmorgan-chase-and-goldman-sachs-with-downgrade-says-downside-risk-not-factored-in/