In a report published Wednesday, Morgan Stanley analyst Ken A. Zerbe reiterated an Overweight rating and $26.00 price target on Fifth Third Bancorp FITB.
In the report, Morgan Stanley noted, “Our investment thesis is that FITB should trade at a P/E multiple more in line with the peer group (of 14x 2015e EPS) given similar, if not better, profitability (ROA and ROE); broadly in-line loan growth; greater exposure to C&I lending; and a higher percentage of fee income (which diversifies revenues and adds to profitability).”
Fifth Third Bancorp closed on Tuesday at $20.06.
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