Fifth Third (FITB) Stock Drops After Morgan Stanley Cuts Rating
NEW YORK (TheStreet) -- Shares of Fifth Third Bancorp (FITB) - Get Report are sliding 2.93% to $16.92 on Tuesday morning after Morgan Stanley downgraded the stock to "equal weight" from "overweight."
The firm expects loan growth in 2017 to be just over half the industry average, according to the Fly.
Morgan Stanley is also less optimistic that the company can narrow its earnings growth gap compared to peers.
The bank and financial holding company is based in Cincinnati.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and expanding profit margins. The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: FITB