Compass Point lowered the firm’s price target on U.S. Bancorp to $46 from $47 and keeps a Neutral rating on the shares as the firm is trimming its FY25 core EPS forecast to reflect higher expense estimates for FY25, offset partially by stronger NII and core fee income growth. While the firm says “there’s a lot to like about the USB franchise,” its target reflects less upside potential overall, reflecting a lower share price return compared to its Buy-rated names in the space.
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