U.S. Bancorp price target lowered to $42 from $44 at Goldman Sachs

Goldman Sachs analyst Richard Ramsden lowered the firm’s price target on U.S. Bancorp (USB) to $42 from $44 and keeps a Neutral rating on the shares after its Q1 earnings beat. The company reported pre-provision net revenue modestly above consensus and the firm views the management’s affirmed guidance positively, but Goldman also sees uncertainty on the path to deliver above 3% net interest margin by 2027 against the backdrop of macro uncertainty and volatility in the rate environment, the analyst tells investors in a research note.