UBS is downgrading this regional bank over 'structural uncertainties' after the broader liquidity crisis.
UBS thinks the recent banking crisis has left U.S. Bancorp with limited upside. The firm now has U.S. Bancorp marked at neutral down from a buy rating. It also lowered its price target on the stock to $39 per share from $57 per share. That represents 9% upside from the stocks last closing price of $35.75 per share. UBS noted that "structural uncertainties" remain for the company which are more of a headwind as opposed to the macro issues stemming from the regional banking crisis.
"We entered 2023 naming USB as one of our Top Picks. But that was in the 'before times.' While strategically sound, USB's acquisition of UB puts it in a precarious position in the 'after times,''' UBS analyst Erika Najarian wrote on Monday. Shares of U.S Bancorp have pulled back 18% year to date, stemming largely from a broader liquidity crisis spurred from the collapse of Silicon Valley Bank and Signature Bank last month .
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sell these mining stocks and load up on 8 energy ones instead: UBSThere's an investment opportunity in the diverging paths of the two sectors, UBS says, thanks to 'unsynchronized' global growth.
Read more »
NBA star stashed cash in several banks because of FDIC limit: quotesGiannis Antetokounmpo stashed his cash in several banks to avoid falling foul of the FDIC's $250,000 limit. Here are the NBA star's 7 best quotes about money and investing.
Read more »
Ethereum Shanghai hard fork: ETH price set for more gains versus Bitcoin in AprilEther has outperformed Bitcoin so far in April, rising 2.5% versus the latter's 1.5% drop.
Read more »
Biggest Movers: ADA Extends Gains, as SOL Consolidates on Saturday – Market Updates Bitcoin NewsCardano rose for a second straight session to start the weekend, as the token continued to move away from a key price floor.
Read more »
2024 Lexus LC Junks Awful Trackpad, Gains Bigger Screen And LFA-Inspired Ultimate Edition | CarscoopsFront end of new hi-spec LC features integral canard aero elements and retuned V8; other LCs get infotainment and chassis upgrades
Read more »
Saudi bourse gains amid strong oil prices; Egypt fallsSaudi Arabia's stock market finished higher on Sunday, ending two sessions of losses, while the Egyptian bourse extended losses on rising inflation.
Read more »