Wedbush Starts Fifth Third Bancorp (FITB) at Neutral
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Wedbush initiates coverage on Fifth Third Bancorp (NASDAQ: FITB) with a Neutral rating and a price target of $22.00.
Analyst Peter Winter commented, "FITB is in the midst of a turnaround and we believe 1Q16 EPS was the bottom and are forecasting it to rebound. With that said, we believe a lot of the good news has been reflected in the stock as it has gone from trading at one of the lowest P/E valuations in the group to in line."
Shares of Fifth Third Bancorp closed at $20.74 yesterday.
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