U.S. Bancorp upgraded to Buy from Hold at HSBC

HSBC upgraded U.S. Bancorp to Buy from Hold with a price target of $53, up from $47. U SBancorp, along with the other super-regional banks, has materially underperformed universal banks and the market year-to-date, the analyst tells investors in a research note. The firm says this underperformance has led to a buying opportunity at US Bancorp. It sees the bank expanding profitability in 2025 and continuing to generate near best-in-class return on equity. US Bancorp is HSBC’s preferred choice among U.S. super-regionals, though Citigroup remains its preferred choice among bank stocks.