Fifth Third upgraded to Outperform from Market Perform at Keefe Bruyette

Keefe Bruyette analyst David Konrad upgraded Fifth Third Bancorp to Outperform from Market Perform with a price target of $34, down from $38. The analyst believes Fifth Third offers a better return profile, diversified balance sheet and strong liquidity relative to peers. Improved profitability from Dividend Finance in the second half of 2023, capital generation and under 1% commercial real estate office exposure should drive outperformance in the stock, the analyst tells investors in a research note.