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Evercore ISI Group analyst Vijay Kumar upgrades U.S. Bancorp (NYSE:USB) from In-Line to Outperform and raises the price target from $65 to $72.
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U.S. Bancorp is expanding its business banking operations by adding over 50 bankers and entering Florida and Georgia while deepening presence in Texas and Arizona. The bank is targeting mid-market businesses with $2.5-$50M in annual sales and strengthening specialized capabilities in SBA lending and healthcare banking to drive organic growth.
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