DA Davidson analyst Peter Winter upgraded Fifth Third (FITB) to Buy from Neutral with a price target of $47, up from $42, after hosting meetings with management. The firm came away with a stronger conviction that the stock’s year-to-date underperformance is unwarranted. Fifth Third is one of the best managers of the balance sheet, has “top tier” profitability metrics, and consistently strong earnings growth, led by continuous investments to drive growth, “with plenty of runway for future growth,” the analyst tells investors in a research note.
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