January 04, 2013 at 09:03 AM EST
US Bancorp Upgraded at Deutsche Bank (USB)

Deutsche Bank reported on Friday that they have upgraded financial services company, U.S. Bancorp(USB) to a “Buy.”

The firm has increased their rating from a “Hold” to a “Buy,” and have given the company a $38 price target. This price target suggests a 14% increase from the stock’s current price of $32.51.

Analysts see USB best leveraged to succeed in the GSE/mortgage space.

U.S. Bancorp shares were most flat during premarket trading Friday. The stock has increased 20% in the past year.

The Bottom Line
Shares of U.S. Bancorp (USB) have a 2.40% dividend yield, based on last night’s closing stock price of $32.51. the stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $34-$35 price levels.

U.S. Bancorp(USB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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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