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Truist Keeps Buy on U.S. Bancorp (USB) Despite Pressure from Rates and Macro Risks
Truist Financial has reiterated a “Buy” rating on U.S. Bancorp (USB) but lowered its price target to $63 from $66, citing broader concerns impacting bank stocks such as interest rates and macro risks. Despite these pressures, recent quarterly updates and management outlooks for the year have been positive. U.S. Bancorp also announced the appointment of Toby Clements as senior executive vice president and chief operations officer, effective April 13.