Wells Fargo analyst Mike Mayo lowered the firm’s price target on Fifth Third to $35 from $40 and keeps an Overweight rating on the shares. The firm notes the company guided Q2 net interest income down, leading Wells to lower estimates/price target – a contrast continues between “Goliaths” and others. Yet Fifth Third is still better than similarly sized peers, with less NII/deposit pressure.
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Published first on TheFly
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Read More on FITB:
- Fifth Third sees Q2 revenue down 2%-3% from Q1
- Fifth Third Bank to increase prime lending rate to 8.25%
- Fifth Third management to meet with Jefferies
- Fifth Third price target lowered to $30 from $31 at DA Davidson
- Fifth Third price target lowered to $30 from $40 at Citi
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