Wells Fargo analyst Mike Mayo lowered the firm’s price target on U.S. Bancorp (USB) to $50 from $56 and keeps an Overweight rating on the shares. The firm notes U.S. Bancorp’s core Q1 was roughly in line, owing to better costs, credit, and capital. Its 2025 guide was unchanged, including revenue of +3%-5%. The challenge is sustaining growth while keeping costs flat, Wells adds.
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