JPMorgan Raises U.S. Bancorp Price Target to $62 Despite Underweight Rating
JPMorgan boosted USB's price target from $55.50 to $62 while retaining an Underweight rating, and UBS and Evercore ISI raised their targets to $60 (Neutral) and $65 (In Line), respectively. With 50% of analysts recommending Buy and a median one-year target of $62 implying roughly 6–7% upside, the stock has gained about 10% year-to-date near its 52-week high.
1. Analyst Price Target Revisions
In early February, multiple brokerages adjusted U.S. Bancorp’s price forecasts. JPMorgan lifted its target from $55.50 to $62 while maintaining an Underweight rating. UBS raised its forecast to $60 from $57 with a Neutral stance, and Evercore ISI increased its target to $65 with an In Line rating.
2. Consensus Rating and Upside Potential
Analyst sentiment remains balanced, with 50% assigning Buy or equivalent ratings. The consensus one-year median price target of $62 implies approximately 6–7% upside from current levels, indicating limited near-term gains.
3. Stock Performance and Valuation
The stock has climbed about 10% year-to-date and trades around $58.76 near the top of its 52-week range. Sector rotation, stable economic conditions and solid fundamentals have underpinned its resilience, though upside may be capped by cautious analyst outlooks.