Stephens notes that Fifth Third released an investor presentation with an updated Q3 PPNR outlook that was above consensus, which the firm says is “consistent with Fifth Third’s beat-and-raise history.” Fifth Third believes it can capitalize on the roughly 12% compound annual growth rate forecasted through 2030 in U.S. B2B payment volume via its managed services and embedded payment platforms and management sees commercial payments generating about $1B of annual revenue in five years, notes the analyst, who has an Equal Weight rating and $42 price target on Fifth Third shares.
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