Deutsche Bank analyst Matt O’Connor upgraded U.S. Bancorp (USB) to Buy from Hold with an unchanged price target of $52.50. The firm sees a “relatively low bar” for both the company’s earnings and the stock. U.S. Bancorp’s credibility for meeting estimates is improving as is its capital position, the analyst tells investors in a research note. Deutsche also views U.S. Bancorp as more credit defensive than some peers if credit fears persist.
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