Wells Fargo Upgrades Fifth Third Bancorp (FITB) to Outperform; Growth and Value

Article Stock Quotes (1) Comments (0)

Wells Fargo upgraded Fifth Third Bancorp (NASDAQ: FITB) from Market Perform to Outperform, price target range $15-$16.

Analyst, Matthew H. Burnell, said, "We are upgrading FITB due to what we now believe is an attractive combination of: 1) FITB’s focus on C&I lending and mortgage banking, which should help support returns in 2012; 2) relatively healthier economic trends in its core markets; 3) ability to increase its capital return in 2012 post CCAR resubmission; and 4) attractive relative valuation on both a P/TBV basis and forward P/E basis."

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 $13.23 yesterday, with a 52 week range of $9.13-$14.73.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: Leerink Swann Upgrades Bristol-Myers Squibb Co. (BMY) to Outperform
• Stifel Nicolaus Upgrades Pike Electric (PIKE) to Buy
• Wells Fargo Downgrades Aruba Networks (ARUN) to Market Perform

Create E-mail Alert Related Categories

Upgrades

Related Entities

Wells Fargo

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?