J.P. Morgan Maintains Neutral on Fifth Third Bancorp

J.P. Morgan is out with its report today on Fifth Third Bancorp (NASDAQ: FITB), maintaining Neutral.

In a note to clients, J.P. Morgan writes, "FITB has said it is interested in acquisitions and using those to expand its franchise. If loan growth remains sluggish, we expect more M&A in the industry but there are limited sellers in our view. In addition, FITB's stock valuation is in line with peer average. Therefore, we rate Fifth Third Neutral on a relative basis to our coverage universe as we view FITB's stock as fairly valued."

J.P. Morgan maintains a $17 PT on FITB.

Shares of FITB closed Thursday at $12.76, up 3.49% from Wednesday's close.