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UPDATE: Morgan Stanley Downgrades U.S. Bancorp to Equal-Weight on Valuation

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Morgan Stanley reduced its rating on U.S. Bancorp (NYSE: USB) from Overweight to Equal-weight with a reiterated $35 price target.

Morgan Stanley commented, "Stock approaching fair value… currently trades at 1.5x 2014e P/B on 16% 2014 ROE. Higher capital return, lower earnings volatility largely priced in. Given USB has best in class efficiency ratios, it has less room to manage costs down from current levels relative to peers."

U.S. Bancorp closed at $32.57 on Tuesday.

Latest Ratings for USB

Nov 2015Piper JaffrayInitiates Coverage onOverweight
Sep 2015Deutsche BankUpgradesHoldBuy
Aug 2015Portales PartnersUpgradesSector PerformOutperform

View More Analyst Ratings for USB
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Downgrades Intraday Update Analyst Ratings


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