DA Davidson analyst Peter Winter lowered the firm’s price target on Fifth Third to $30 from $31 and keeps a Neutral rating on the shares after its Q1 earnings miss and the company’s cut in net interest income forecast owing to more deposit cost pressure. Fifth Third has several levers for organic growth however, driven by its SE branch expansion, acquisitions of Dividend Finance and Provide, along with Momentum Banking and peer leading household account growth, the analyst tells investors in a research note.
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- Fifth Third price target lowered to $30 from $40 at Citi
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