U.S. Bancorp price target lowered to $62 from $67 at Oppenheimer

Oppenheimer lowered the firm’s price target on U.S. Bancorp to $62 from $67 and keeps an Outperform rating on the shares. The analyst says the new capital standards as written would increase capital requirements by anything from low to mid-single digits to 25%-30%, with the bigger hits coming to the larger and more capital markets-oriented banks. While the firm does not see lower return on equities for the banking industry in the long run, it says it will take time to adjust. In the meantime, the new regulations “needlessly created another period of uncertainty for bank stock investors and this is of course extremely negative for the sentiment about banks,” writes Oppenheimer.