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Stifel Nicolaus Upgrades Fifth Third (FITB), Downgrades US Bancorp (USB)

April 3, 2012 8:28 AM EDT Send to a Friend
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Price: $20.92 -0.43%

Rating Summary:
    16 Buy, 14 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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Stifel Nicolaus' Christopher Mutascio effectively put out a pair trade Tuesday morning, upgrading shares of Fifth Third (Nasdaq: FITB) while at the same time downgrading shares of US Bancorp (NYSE: USB).

The analyst now rates Fifth Third shares a Buy, up from Hold previously, and set a $17 price target. Mutascio lowered his investment rating on shares of US Bancorp from Buy to Hold and suspended his $32 price target.

Traders are reacting appropriately ahead of the opening bell: Fifth Third shares are up 0.3 percent $14.48 and shares of US Bancorp are down 0.75 percent to $31.47.

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