US Bancorp (NYSE:USB) is one of the 10 Cheap Large Cap Stocks to Buy According to Hedge Funds. On 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.
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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 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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This article is originally published at Insider Monkey.
