Goldman Sachs analyst Richard Ramsden lowered the firm’s price target on U.S. Bancorp to $37 from $41 and keeps a Neutral rating on the shares after its Q1 results and guidance. The analyst is revising the firm’s model on near-term loan growth marginally and expects modest deposit outflows for the company through the remainder of the year. The firm adds however that the revised guidance was largely discounted in the valuation, and the incremental detail that management gave around capital build, deposits flow, deposit betas, and updates on integration on should help in assuaging near term concerns.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on USB:
- U.S. Bancorp should see continued organic capital growth, says Stephens
- U.S. Bancorp sees FY23 revenue $28.5B – $30.5B , consensus $29.22B
- U.S. Bancorp sees Q2 revenue $7.1B – $7.3B , consensus 7.28B
- U.S. Bancorp reports Q1 EPS $1.16, consensus $1.12
- US Bancorp put volume heavy and directionally bearish