UPDATE: Stifel Nicolaus Downgrades Fifth Third Bancorp to Hold on Valuation

Stifel Nicolaus downgraded Fifth Third Bancorp (NASDAQ: FITB) from Buy to Hold and removed the price target of $17.00.

Stifel Nicolaus noted, "This is purely a valuation call as the shares are now within 2% of our $17 target price. We still like it over other Midwest banks like CMA and KEY."

Fifth Third Bancorp closed at $16.61 on Friday.

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