U.S. Bancorp (USB) Stock Price Target Upped at Nomura

U.S. Bancorp (USB) stock price target was raised to $44 from $39 at Nomura on Monday morning.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- U.S. Bancorp (USB) - Get Report stock price target was lifted to $44 from $39 at Nomura on Monday morning. The firm has a "buy" rating on shares.

The higher price target comes after the banking and financial services holding company reported better-than-expected results for the 2016 second quarter.

The Minneapolis-based company posted earnings of 83 cents per share, above analysts' expectations of 80 cents per share. Revenue was $5.45 billion, higher than estimates of $5.19 billion.

Nomura said the beat was driven by better-than-expected fee income.

"Despite our cautious outlook on regional banks, we walked away from this quarter's results with greater confidence in USB's ability to continue to deliver sustainable core EPS growth regardless of the rate environment," the firm wrote in an analyst note.

Nomura believes the company will continue to deliver relative outperformance amid a challenging operating environment for banks.

Shares of U.S. Bancorp are slumping 3.58% to $40.39 in pre-market trading on Monday.

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, expanding profit margins and notable return on equity. 

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: USB

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