RBC Capital analyst Gerard Cassidy raised the firm’s price target on U.S. Bancorp (USB) to $61 from $59 and keeps an Outperform rating on the shares after its Q1 earnings beat. The bank is delivering steady growth and positive operating leverage delivered through a combination of investments made in the last five years, the potential revenue synergies from the Union Bank acquisition and holistic approach of optimizing revenue from its customer base, the analyst tells investors in a research note.
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