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Fly News Breaks for October 18, 2018
USB
Oct 18, 2018 | 07:47 EDT
As previously reported, Oppenheimer analyst Chris Kotowski upgraded U.S. Bancorp to Outperform from Perform, with a $62 price target. The analyst notes that since rates started rising in late 2015, USB has started seeing accelerating core earnings growth again, but the growth rate has slightly lagged behind peers' as a result of modestly negative operating leverage. Q3 brought the second consecutive quarter of positive operating leverage, and he thinks U.S. Bancorp is now well poised to outperform.
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