U.S. Bancorp price target lowered to $51 from $57 at Raymond James

Raymond James lowered the firm’s price target on U.S. Bancorp (USB) to $51 from $57 and keeps an Outperform rating on the shares following quarterly results. The quarter was highlighted by an impressive revenue beat and controlled operating expenses, leading to impressive positive operating leverage, the firm says. Furthermore, Raymond James is pleased to see the bank maintain its revenue and positive operating leverage guide for 2025 despite the increasing levels of uncertainty. The firm’s thesis remains intact, as it believes U.S. Bancorp is well-positioned to improve its operating leverage and produce superior profitability metrics.