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Thursday, Oct 24
U.S. Bancorp loses Buy rating at Deutsche
- Citing weaker-than-expected trends following Q3 results reported this week, Deutsche cuts U.S. Bancorp (USB) to Hold and the price target to $38 from $41.
- Q3 results previously: "The trend is not your friend: Year-over-year revenue growth showed a decline of 5.6% in Q3 vs. a 2.4% decline in Q2, a 1.1% decline in Q1, and an 8% gain last year in Q3 (slide #5)."
- Shares -0.2% premarket.