Wells Fargo says JPMorgan is writing down the value of collateral on software-related private credit loans. The analyst expects no losses at JPMorgan. The move shows JPMorgan is in a position to manage underlying collateral, the analyst tells investors in a research note. The firm believes the large diversified banks seem are well positioned to handle private credit loans. Wells has an Overweight rating on JPMorgan with a $350 price target.
