U.S. Bancorp price target raised to $57 from $55 at Goldman Sachs

Goldman Sachs analyst Richard Ramsden raised the firm’s price target on U.S. Bancorp (USB) to $57 from $55 and keeps a Neutral rating on the shares as part of a broader research note previewing Q1 results for banks. Valuation for the group appears more attractive after the 7% sell-off year-to-date, which was entirely multiple-driven, with valuation more in-line with historical levels, the analyst tells investors in a research note. Goldman adds that investors are expected to focus on the outlook for net interest income, risks to capital markets revenue from the spike in market volatility, along with impacts to credit quality and provisions from higher energy prices.