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.
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