Fifth Third upgraded to Outperform from Neutral at Baird

Baird upgraded Fifth Third (FITB) to Outperform from Neutral with an unchanged price target of $47. The stock’s risk/reward is “getting quite attractive” given the recent weakness, the analyst tells investors in a research note. The recent weakness in the bank group has resulted in the best risk/reward trade-off Baird has seen since 2023. The firm says that while recent tariff announcements “make no sense,” the “margin of safety is now there to buy bank stocks more aggressively here.”