Wells Fargo raised the firm’s price target on U.S. Bancorp (USB) to $62 from $60 and keeps an Overweight rating on the shares as part of a broader research note on Large-Cap banks. The firm is citing the expected benefit of the U.S. elections driving a “15-year regulatory paradigm shift” and its upward bias to EPS estimates, along with anticipated greater flexibility by banks to return and deploy capital and for a bank merger resurgence, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on USB:
- U.S. Bancorp cuts prime lending rate to 7.75% from 8%, effective November 8
- U.S. Bancorp Executives to Present at Boston Conference
- US Bancorp put volume heavy and directionally bearish
- Boeing union rejects latest offer, Tesla reports Q3 beat: Morning Buzz
- Verizon downgraded, Canadian Pacific upgraded: Wall Street’s top analyst calls