U.S. Bancorp pulled from Conviction Buy list at Goldman

April 3 is officially bank downgrade day, with the latest being U.S. Bancorp (USB) being removed from Goldman's Conviction Buy list. It's the 2nd downgrade in 2 days for USB which had its Buy rating pulled at Sandler O'Neill yesterday.

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Q1 earnings seasons starts soon and the outlook is for sluggish results, so it shouldn't be too surprising the sell-side is cashing in a few chips.

Earlier: Citi downgraded at Sterne Agee and Deutsche cut at JPMorgan.

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