U.S. Bancorp price target lowered to $52 from $56 at Barclays

Barclays lowered the firm’s price target on U.S. Bancorp to $52 from $56 and keeps an Overweight rating on the shares following the Q1 report. Earnings were slightly ahead as better than expected fees compensated for lower than anticipated net interest income and a higher than forecast provision, the analyst tells investors in a research note. The firm says U.S. Bancorp cut its 2024 NII guide but also reduced its expense forecast.