U.S. Bancorp’s stock upgrade reflects improved fee revenue growth, with a new price target of $67.50 set by the bank.
J.P. Morgan Securities upgraded U.S. Bancorp (USB) to Neutral from Underweight, citing stronger fee revenue growth. The firm also raised its price target on the stock to $67.50 from $65.00.
Prior to the upgrade, USB shares traded at $63.49, reflecting a 0.55% gain in morning trading. The adjustment follows recent trends in the bank’s revenue performance and market positioning.
The move signals cautious optimism about USB’s near-term outlook amid shifting sector dynamics.