BUZZ-Street View: U.S. Bancorp well-positioned to gain
U.S. Bancorp USB | 0.00 |
** U.S. Bancorp USB.N reported record quarterly revenue on Thursday, benefiting from robust loan growth and broad-based fee income, while its acquisition of investment bank BTIG provided an additional boost
** Median PT of 25 brokerages covering stock is $68 - LSEG-compiled data
BTIG DEAL IN FOCUS
** KBW ("market perform," PT: $66) says USB's "fundamental outlook remains bright" supported by better fee income expectations
** D.A. Davidson ("buy," PT: $74) says "profitability metrics are at upper end of peers, capital levels are building and if USB can sustain the strong revenue momentum, USB should regain its premium valuation"
** Jefferies ("buy," PT: $75) says USB's pending Amazon card portfolio acquisition, expected to close in mid-August, is set to boost loan growth, improve asset mix and expand net interest income
** Morningstar (fair value: $62) says while cross-selling BTIG products to existing USB clients could create some revenue opportunities, the 10% revenue share target appears "ambitious"
