UPDATE: UBS Starts Fifth Third Bancorp (FITB) at Buy
Get Alerts FITB Hot Sheet
Rating Summary:
16 Buy, 20 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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UBS initiated coverage on Fifth Third Bancorp (NASDAQ: FITB) with a Buy rating and a price target of $22.00. Analyst David Eads noted its discount valuation and strong operating metrics.
"While it is clear that FITB faces challenges, they also bring to the table a number of positives that we wouldn't normally expect from a bank trading at a discount to the group. Specifically, FITB had the lowest core efficiency ratio in our coverage last year, and was second only to MTB in terms of ROTE. Also, even though revenue growth has been negative the past two years, FITB has improved its efficiency ratio over this period, which makes us more confident in their ability to navigate this difficult environment," said Eads.
For an analyst ratings summary and ratings history on Fifth Third Bancorp click here. For more ratings news on Fifth Third Bancorp click here.
Shares of Fifth Third Bancorp closed at $19.51 yesterday.
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