U.S. Bancorp (USB) PT Lowered to $49 at DA Davidson

DA Davidson analyst Peter Winter lowered the price target on U.S. Bancorp (NYSE: USB) to $49.00 (from $54.00) while maintaining a Buy rating.

The analyst commented, "Gunjan Kedia became CEO & President April 15. She is determined to have USB regain its premium valuation with a real sense of urgency. She is committed to delivering the medium-term profitability targets outlined at investor day in September 2024, regardless of the economic environment along with delivering 200bp of POL in 2025. USB reported POL greater than 0.5% only once since 2016, and it's been negative 6 of those years. Therefore, USB is willing to manage expenses if revenues come in weaker than forecast owing to the uncertain environment. Maintain BUY, but lowering PT to $49 (was $54)."

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