U.S. Bancorp’s Target, Estimates Raised at Morgan Stanley (USB)

Regional banker U.S. Bancorp (USB) on Wednesday caught some further positive commentary from analysts at Morgan Stanley.

The firm maintained its “Outperform” rating on USB and lifted its price target to $35, suggesting an 11% upside to the stock’s Tuesday closing price of $31.55. Morgan Stanley also boosted its earnings estimates for the company, citing rising sales and more favorable credit trends.

U.S. Bancorp shares posted small losses in morning trading Wednesday.

The Bottom Line
Shares of U.S. Bancorp (USB) have a 2.47% dividend yield, based on last night’s closing stock price of $31.55. The stock has technical support in the $28 price area. If the shares can firm up, we see overhead resistance around the $35 price level.

U.S. Bancorp (USB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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