Piper Sandler upgraded U.S. Bancorp (USB) to Overweight from Neutral with a $58 price target In conjunction with the firm’s thoughts entering the first week of large bank earnings, Piper is becoming more constructive on U.S. Bancorp. The firm points out that management has characterized U.S. Bancorp as at an inflection point, in which recent investments have been absorbed into the cost run-rate, they are bearing fruit, and the company is positioned to return to generating consistent positive operating leverage.
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