U.S. Bancorp price target raised to $52 from $51 at Goldman Sachs

Goldman Sachs analyst Richard Ramsden raised the firm’s price target on U.S. Bancorp (USB) to $52 from $51 and keeps a Neutral rating on the shares. U.S. Bancorp reported Q3 EPS of $1.22 and core EPS of $1.24, exceeding consensus estimates on lower provisions and stronger core pre-provision net revenue, supported by higher NII and fee income, the analyst tells investors in a research note. With modest upward revisions to noninterest revenue forecasts and continued capital build toward a 75% payout ratio, the outlook reflects steady improvement in profitability and balance sheet strength, Goldman says.