Citigroup Raises Target Price for U.S. Bancorp to $65

Summary

Citigroup has raised its target price for U.S. Bancorp from $59 to $65.Zhitong

Impact Analysis

So basically, Citigroup’s target price hike for U.S. Bancorp to $65 is a strong vote of confidence in the bank’s financial health and growth prospects. This comes on the back of U.S. Bancorp’s recent earnings beat and a dividend increase, which already had analysts rating it a ‘Moderate Buy’ with an average price target of $52.55.Market Beat+ 2 The technical indicators are also bullish, with the stock in a long-term uptrend and MACD showing a buy signal. The market might be underestimating the positive sentiment from institutional investors who have been increasing their stakes.Market Beat+ 2 Given the current price levels and the technical setup, there seems to be a good risk/reward opportunity here. I’d read this as a signal to consider adding to positions, especially on any pullbacks.