Raymond James Upgrades U.S. Bancorp (USB) to Strong Buy, Sees 23% Upside

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Shares of U.S. Bancorp (NYSE: USB) are rallying in pre-open action on Thursday following an upgrade at Raymond James earlier.

The firm now rates US Bancorp shares a Strong Buy, up from Outperform previously. Raymond James boosted its price target on the stock from $32 to $33.

With shares of US Bancorp up 1.3 percent to $26.79 about a half-hour ahead of the opening bell, Raymond James' new price target suggests potential upside of about 23 percent.

For more ratings news on U.S. Bancorp click here and for the rating history of U.S. Bancorp click here.

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