U.S. Bancorp price target raised to $55 from $53 at BofA

BofA raised the firm’s price target on U.S. Bancorp to $55 from $53 and keeps a Buy rating on the shares. Risk of U.S. Bank engaging in M&A drove a selloff in the stock coming out of last month’s investor day, but management downplayed its desire for M&A during the Q3 earnings call, calling it “not a priority… not something we’re focused on,” according to the analyst. The firm raised its Q4 and FY25 EPS forecasts to $1.03 and $4.40 from 97c and $4.30, respectively, following the Q3 beat.