HSBC Lifts PT on US Bancorp (USB) to $61 From $54, Keeps a Buy Rating

US Bancorp (NYSE:USB) is one of the 10 Cheap Large Cap Stocks to Buy According to Hedge FundsOn July 7, HSBC maintained a Buy rating on US Bancorp (NYSE:USB), raising the firm’s price target on the stock to $61 from $54.

U.S. Bancorp Shows Resilience as a Consistent Dividend Payer

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The firm told investors in a research note that it is adopting a more cautious stance on universal banks and brokers after the recent rally in the shares. The firm, however, recommends a more constructive stance on super-regionals.

HSBC also told investors that while the banks and broker group appear to have healthy operating fundamentals, the share valuations are “increasingly stretched.”

US Bancorp (NYSE:USB) is a bank holding company that offers financial services including cash management, lending and depository services, foreign exchange, and trust and investment management. It also offers refinance, mortgage, boat and RV loans, credit card services, credit lines, auto, merchant, checking, and savings accounts, ATM processing, debit cards, insurance, and more.

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Disclosure: None. This article is originally published at Insider Monkey.