DA Davidson raised the firm’s price target on U.S. Bancorp (USB) to $52 from $49 and keeps a Buy rating on the shares. U.S. Bancorp delivered positive operating leverage year over year, while core fee income was solid and fee income guidance was maintained, the analyst tells investors in a research note. During the quarter, U.S. Bancorp took several actions to strategically position the balance sheet for near-term margin expansion and for NII to grow in the second half, DA Davidson adds.
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Read More on USB:
- U.S. Bancorp price target raised to $66 from $65 at Oppenheimer
- U.S. Bancorp price target lowered to $58 from $60 at TD Cowen
- U.S. Bancorp price target raised to $52 from $51 at Morgan Stanley
- US Bancorp: Strategic Initiatives and Strong Financial Performance Drive Buy Rating
- US Bancorp: Strong Operational Leverage and Strategic Positioning Justify Buy Rating Despite Long-term Challenges