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In a report published Monday, Morgan Stanley analyst Betsy L. Graseck reiterated an Equal-Weight rating and $42.00 price target on
U.S. BancorpUSB.
In the report, Morgan Stanley noted, “We are Equal-weight USB as the bank's higher capital return and lower earnings volatility vs. peers are largely priced in. There is less room for improvement in expense tightening as USB's efficiency ratio is already best-in-class. We believe higher beta large cap banks will offer greater upside from improving housing and improving consumer balance sheets in 2014.”
U.S. Bancorp closed on Thursday at $40.25.
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