UBS notes that U.S. Bancorp (USB) has announced that President Gunjan Kedia will take over as CEO from Andy Cecere on April 15. While Kedia was telegraphed as the successor, the firm finds the “timing interesting” as it thinks investors expected a longer transition period. USB looks forward to hearing from Kedia at its February conference about her plans for U.S. Bancorp’s future. The firm has a Neutral rating on the shares with a price target of $53.
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