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Fly News Breaks for January 6, 2020
USB
Jan 6, 2020 | 05:14 EDT
Goldman Sachs analyst Richard Ramsden downgraded U.S. Bancorp to Sell from Neutral with a $55 price target. The analyst expects U.S. Bancorp to experience one of the largest reductions in operating leverage in 2020 due to net interest margin pressure, continued loan yield repricing, a deceleration of fee income and further expense growth. The bank's current valuation, even adjusting for returns, appears expensive, Ramsden tells investors in a research note.
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