RBC Capital analyst Gerard Cassidy lowered the firm’s price target on Fifth Third to $36 from $42 and keeps an Outperform rating on the shares. The analyst states that the "excessive" tightening by the Federal Reserve, resulting in a "deep recession" in 2023, poses a key risk for the bank as it would bring on elevated levels of credit losses and depress earnings.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on FITB:
- Fifth Third put volume heavy and directionally bearish
- Fifth Third to increase prime lending rate to 8.00%
- Early notable gainers among liquid option names on March 20th
- Charles Schwab CEO says he took advantage of the recent dip. Here are 3 other bank stocks insiders are buying now
- Fifth Third director buys $1.27M in common stock
