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Fly News Breaks for May 5, 2017
USB
May 5, 2017 | 07:56 EDT
As noted earlier, Wells Fargo downgraded U.s. Bancorp to Market Perform from Outperform. The firm downgraded the stock based on valuation, its belief that the bank's new premium credit card could lower its EPS by 3% in 2017-2018, its belief that the bank's capital returns will be at the lower end of its peers, and its belief that the bank has "above average exposure to retailers."
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