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U.S. Bancorp price target raised to $63 from $62 at Argus

Argus raised the firm’s price target on U.S. Bancorp (USB) to $63 from $62 and keeps a Buy rating on the shares after its Q4 earnings beat. The company has consistently met or exceeded medium-term goals including a high-teens return on tangible common equity and an efficiency ratio in the mid- to high-50s, and the firm also believes the operating leverage story merits a higher valuation, the analyst tells investors in a research note.

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