Wedbush Starts U.S. Bancorp (USB) at Neutral
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Wedbush initiates coverage on U.S. Bancorp (NYSE: USB) with a Neutral rating and a price target of $46.00.
Analyst Peter Winter commented, "We believe the stock is nearly fairly valued as it’s trading at a slight premium to its regional bank peers. In our view, USB deserves the slight premium given its low-risk balance sheet and leading profitability metrics. However, further multiple expansion could be challenging as EPS growth was weak last year and we are forecasting slightly below-average EPS growth for at least the next two years."
Shares of U.S. Bancorp closed at $43.89 yesterday.
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