Fly News Breaks for October 26, 2015
FITB, USB
Oct 26, 2015 | 09:37 EDT
As previously reported, Stephens analyst Terry McEvoy upgraded U.S. Bancorp (USB) to Overweight from Equal Weight, saying he favors less rate sensitive banks with a higher mix of fee income over the near-term. The analyst paired the upgrade with a downgrade to Equal Weight of Fifth Third (FITB).
News For USB;FITB From the Last 2 Days
FITB
Mar 19, 2024 | 06:14 EDT
Stephens downgraded Fifth Third to Equal Weight from Overweight with a $41 price target. Several factors have contributed to Fifth Third shares outperforming peers in recent years, including the fact that since 2014, Fifth Third's quarterly results have exceeded consensus expectations 74% of the time, the analyst tells investors. However, shares now traded at a "healthy premium" following the successful re-rating of valuation over the last decade and the firm feels that while Fifth Third will maintain its fundamental ranking among peers, Stephens sees less upside in price.