JPMorgan initiates coverage of Saudi Aramco with 'overweight' rating

DUBAI (Reuters) - JPMorgan has initiated coverage of Saudi Aramco's shares with an "overweight" rating and a price target of 37 riyals (7.57 pounds) per share, saying it sees scope for the company to increase its proposed $75 billion base dividend.JPMorgan was a joint global coordinator on Aramco's public share sale in December, which raised a record of $29.4 billion in total, including a so-called greenshoe allocation of extra shares on the back of strong demand. In the run-up to the..