Fifth Third price target raised to $44.50 from $40.50 at JPMorgan

JPMorgan analyst Vivek Juneja raised the firm’s price target on Fifth Third (FITB) to $44.50 from $40.50 and keeps an Overweight rating on the shares as part of a Q2 preview for the large cap banks. The firm attributes the recent outperformance of the large bank stocks to hope for a continued good economy and regulatory benefits with some reduction in capital requirements. In the near term, JPMorgan expects large bank stocks to remain in a narrow range due to “moderate fundamentals” and above average valuations.