U.S. Bancorp Analysts Increase Their Forecasts After Q2 Results

U.S. Bancorp USB reported better-than-expected second-quarter sales results.

U.S. Bancorp clocked a second-quarter total adjusted net revenue growth of 19.7% year-over-year to $7.197 billion, versus expectations of $7.15 billion. Adjusted earnings per share totaled $1.12, in line with the consensus.

U.S. Bancorp shares gained 6.5% to close at $38.91 on Wednesday and added 1.4% in today’s pre-market trading.

These analysts made changes to their price targets on U.S. Bancorp following earnings announcement.

• B of A Securities boosted the price target on U.S. Bancorp from $40 to $45. B of A Securities analyst Ebrahim Poonawala maintained a Buy rating.
• Citigroup increased the price target on U.S. Bancorp from $33 to $40. Citigroup analyst Keith Horowitz maintained a Neutral rating.
• Raymond James analyst David Long, meanwhile, upgraded U.S. Bancorp from Underperform to Market Perform.

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