Citi analyst Keith Horowitz raised the firm’s price target on Fifth Third to $31 from $28 and keeps a Neutral rating on the shares. The firm notes that Fifth Third outperformed on earnings, overcoming softer core PPNR as it reaffirmed its full-year net interest income and deposit beta outlook and credit trends remain very good. Relative to consensus, Citi continues to expect pressure on net interest income extending into 2024 and sees room for slight downward revisions to 2024 consensus estimates.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on FITB:
- Fifth Third price target lowered to $34 from $36 at RBC Capital
- Fifth Third price target raised to $29 from $28 at DA Davidson
- Argus cuts Fifth Third earnings outlook on slower loan growth
- Fifth Third price target raised to $33 from $32 at Wedbush
- Fifth Third sees Q3 revenue down 2%-4% vs. Q2, consensus $2.18B