Morgan Stanley raised the firm’s price target on U.S. Bancorp (USB) to $51 from $50 and keeps an Overweight rating on the shares. The firm expects robust equities trading activity, with investment banking revenues better than management guidance, the analyst tells investors in a research note. With capital requirements lower following last week’s stress test, the firm expects management will begin to provide visibility on share buyback plans.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on USB:
- U.S. Bancorp price target raised to $59 from $55 at Citi
- U.S. Bancorp Announces New Stress Capital Buffer Requirement
- U.S. Bancorp to raise quarterly dividend 4% to 52c per share
- U.S. banks rose after Federal annual health check success, Reuters says
- Fed says stress test showed large banks ‘well positioned,’ even in recession