UPDATE: Oppenheimer Upgrades U.S. Bancorp (USB) to Outperform

(Updated - April 1, 2020 5:29 AM EDT)

(updating comment0

Oppenheimer analyst Chris Kotowski upgraded U.S. Bancorp (NYSE: USB) from Perform to Outperform with a price target of $57.00.

The analyst comments "... we believe that the ~40% declines YTD discount something far worse than a few quarters of weak earnings and thus would buy the dip. We believe the investment banks (GS & MS) will recover more quickly than the lending banks and emphasize them. We are upgrading USB to Outperform from Perform and continue to recommend BAC and C."

For an analyst ratings summary and ratings history on U.S. Bancorp click here. For more ratings news on U.S. Bancorp click here.

Shares of U.S. Bancorp closed at $34.45 yesterday.

You May Also Be Interested In

• Tesla touts acceleration of new models, but Q1 results fall short of estimates
• Piper Sandler Upgrades SmartFinancial (SMBK) to Overweight
• Jefferies Upgrades Randstad NV (RAND:NA) (RANJF) to Hold