UPDATE: Stifel Nicolaus Upgrades U.S. Bancorp to Buy on ROA, Earning Levers
Posted on February 11, 2013 at 08:33 AM EST
Stifel Nicolaus upgraded U.S. Bancorp (NYSE: USB ) from Hold to Buy and announced a $39.00 price target. Stifel Nicolaus commented, "We arrive at our $39 target price by applying a 12x multiple to our 2014 estimate of $3.25. We believe a premium P/E multiple is warranted, given the company's