Fifth Third price target raised to $47 from $42 at Keefe Bruyette

Keefe Bruyette analyst Christopher McGratty raised the firm’s price target on Fifth Third (FITB) to $47 from $42 and keeps a Market Perform rating on the shares following a transfer of coverage. The firm is bullish on the long-term structural benefits of scale for the large-cap banks. It prefers business models that can produce leading returns with high degrees of predictability.