Wells Fargo raised the firm’s price target on U.S. Bancorp (USB) to $52 from $50 and keeps an Overweight rating on the shares. The firm says this was one of the best USB quarters in a while, and management stressed that it should have “meaningful” positive operating leverage in 2026. If so, this reflects a reversal from prior performance. A strong underwriter, USB gave extra assurance on its NDFI, Wells adds.
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