Fifth Third price target raised to $53 from $50.50 at JPMorgan

JPMorgan raised the firm’s price target on Fifth Third (FITB) to $53 from $50.50 and keeps an Overweight rating on the shares. The firm adjusted targets in the large cap bank group as part of a Q1 preview. The Q1 results “should be good” driven by strong markets revenues, but investment banking activity has slowed recently due to market volatility amid the war, the analyst tells investors in a research note. JPMorgan expects large bank stocks to “remain choppy” near term.