Jefferies Trims Numbers On U.S. Bancorp (USB) After Results
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Price: $40.99 -1.49%
Rating Summary:
13 Buy, 23 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
13 Buy, 23 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Jefferies trimmed its price target and estimates on U.S. Bancorp (NYSE: USB) after what it called a "decent quarter."
"USB beat on expenses and credit, but fees were a little softer-than-expected. Our 2011 estimate goes up a nickel to $2.20 as positive credit trends should persist, but 2012 and 2013 move down to $2.45 (from $2.50) and $2.80 (from $2.90), respectively, to reflect a lower fee run-rate. Our price target decreases to $29 from $30 given our lower estimates."
For more ratings news on U.S. Bancorp click here and for the rating history of U.S. Bancorp click here.
Shares of U.S. Bancorp closed at $25.25 yesterday.
"USB beat on expenses and credit, but fees were a little softer-than-expected. Our 2011 estimate goes up a nickel to $2.20 as positive credit trends should persist, but 2012 and 2013 move down to $2.45 (from $2.50) and $2.80 (from $2.90), respectively, to reflect a lower fee run-rate. Our price target decreases to $29 from $30 given our lower estimates."
For more ratings news on U.S. Bancorp click here and for the rating history of U.S. Bancorp click here.
Shares of U.S. Bancorp closed at $25.25 yesterday.
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