Despite such strong performance, USB trades at only a slight P/E premium to many large banks that have much weaker earnings.
Stifel Nicolaus analyst Christopher Mutascio on Monday upgraded U.S. Bancorp and Wells Fargo (WFC) -- which has had similar recent earnings performance and trades even lower to earnings estimates -- to "buy" from "hold."
The analyst's price target for U.S. Bancorp is $39, implying 14% upside from Monday's close. His price target for Wells Fargo is $42, implying 19% upside from that company's closing price of $35.26 on Monday. Meanwhile, Stifel Nicolaus downgraded Fifth Third Bancorp (FITB) to "hold" based on the stock's relatively high valuation to his firm's earnings estimates.
Interested in more on U.S. Bancorp? See TheStreet Ratings' report card for this stock.
Email. Follow @PhilipvanDoorn
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts