Deutsche Bank Sees 25% Upside In Fifth Third (FITB)

Deutsche Bank sees more than 25% upside in shares of Fifth Third Bancorp. (NASDAQ: FITB) after meeting with company management. It has a Hold rating and a $14 price target on shares.

In a note to clients, Deutsche Bank writes, "On Tue, we hosted several meetings with FITB’s CEO and CFO. Despite the decline in rates and increased macro uncertainty, credit and NIM in the near term seem likely to be in line with expectations. Longer term, mgmt is confident credit costs will continue to trend down (unless the economy/housing gets meaningfully worse) and is focused on maintaining revenue growth potential. We maintain our HOLD rating given rising macro risks and industry-wide revenue pressures."

Shares of Fifth Third closed at $11.05 yesterday.