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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