Miller Tabak Raises Price Target Slightly on Fifth Third (FITB), Sees Continued Growth Even With Recession
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Price: $36.67 -1.5%
Rating Summary:
13 Buy, 23 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
13 Buy, 23 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Miller Tabak is reaffirming its Strong Buy rating on shares of Fifth Third Bancorp (NASDAQ: FITB) and is increasing its price target slightly from $11.82 to $11.90.
The firm notes that the company has recently begun to recover from the impact of the 2008-2009 recession on its operations in its Michigan and Florida sectors. As a result, FITB is now able to generate strong organic growth in its core business segments.
Miller Tabak believes that Fith Third's credit quality and operating margins will continue to improve, but comments that the overall slowing economy will damper those efforts subsequently.
To go inline with current market trends and the company's performance, the firm forecasts EPS for 2011 and 2012 of $0.96 and $1.40.
For more ratings news on Fifth Third Bancorp click here and for the rating history of Fifth Third Bancorp click here.
Shares of Fifth Third Bancorp closed at $10.67 yesterday.
The firm notes that the company has recently begun to recover from the impact of the 2008-2009 recession on its operations in its Michigan and Florida sectors. As a result, FITB is now able to generate strong organic growth in its core business segments.
Miller Tabak believes that Fith Third's credit quality and operating margins will continue to improve, but comments that the overall slowing economy will damper those efforts subsequently.
To go inline with current market trends and the company's performance, the firm forecasts EPS for 2011 and 2012 of $0.96 and $1.40.
For more ratings news on Fifth Third Bancorp click here and for the rating history of Fifth Third Bancorp click here.
Shares of Fifth Third Bancorp closed at $10.67 yesterday.
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