Morgan Stanley analyst Manan Gosalia upgraded Fifth Third (FITB) to Overweight from Equal Weight with a price target of $60, up from $56. The bank’s acquisition of Comerica (CMA) s a strong strategic fit and can bring upside to earnings accretion guidance, the analyst tells investors in a research note. The firm says Comerica brings a “strong foothold into higher growth markets” like Texas and allows Fifth Third to leverage its retail offerings.
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