Fifth Third price target raised to $57 from $52 at RBC Capital

RBC Capital raised the firm’s price target on Fifth Third (FITB) to $57 from $52 and keeps an Outperform rating on the shares after its Q4 earnings beat. The outlook for Fifth Third is positive, and under Chairman, CEO, and President Tim Spence’s leadership, the bank is turning into a strong steward of shareholder’s capital, the analyst tells investors in a research note. The management is also committed to delivering “through- the-cycle” stable and profitable results supported by reasonable growth, while its acquisition announcement of Comerica (CMA) is a very good example of pricing discipline and management’s focus on creating long-term shareholders’ value, the firm added.