BofA analyst Erika Najarian raised the firm’s price target on U.S. Bancorp to $45 from $40 and keeps a Buy rating on the shares. The firm said that, in a tough operating environment, the company will have leverage to idiosyncratic revenue growth opportunities while extracting merger related cost savings. Additionally, while the payments business is not immune to cyclicality, top market share in this business sets up the bank attractively, the analyst tells investors in a research note.
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Read More on USB:
- U.S. Bancorp sees FY23 adjusted revenue $28B-$29B, consensus $28.71B
- U.S. Bancorp sees Q3 adjusted revenue $6.9B-$7.1B, consensus $7.22B
- U.S. Bancorp reports Q2 net interest margin 2.90% vs. 2.59% a year ago
- U.S. Bancorp reports Q2 adjusted EPS $1.12, consensus $1.12
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