US Bancorp shows lift stock price despite red ink in broad market

US Bancorp stock rose Wednesday despite weakness in the broad equities market as the company said it would beat Wall Street profit targets for 2023, although it missed its earnings and revenue targets for the fourth quarter.

Jefferies analyst Ken Usdin said the bank’s 2023 guidance implied full-year earnings of $5.15 a share to $5.20 a share, ahead of the current analyst estimate of $5 a share compiled by FactSet.

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