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UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on U.S. Bancorp

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In a report published Friday, J.P. Morgan & Co. reiterated its Overweight rating on U.S. Bancorp (NYSE: USB), and raised its price target from $38.50 to $41.00.

J.P. Morgan noted, “We continue to rate U.S. Bancorp Overweight relative to the large cap peer group of bank stocks due to our expectations for favorable business mix, faster growth in revenues than peers from multiple sources, above-average earnings and tangible book value growth, and lower impact from regulatory/political issues. In addition, USB provides greater capital return than peers given high profitability and strong capital ratios.”

U.S. Bancorp closed on Thursday at $34.16.

Latest Ratings for USB

DateFirmActionFromTo
Jul 2017Argus ResearchUpgradesHoldBuy
May 2017Wells FargoDowngradesOutperformMarket Perform
Jan 2017UBSInitiates Coverage OnBuy

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Posted-In: J.P. Morgan & Co.Analyst Color Price Target Analyst Ratings

 

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