With second quarter earnings coming up, Credit Suisse Group AG (ADR) (NYSE:CS) has adjusted its earnings estimates for US large cap banks slightly to account for the falling trade revenues that bank executives have been warning us about for the last few months. Credit Suisse has increased its price target for PNC Financial Services Group Inc (NYSE:PNC) from $90 to $95, U.S. Bancorp (NYSE:USB) from $44 to $46 and Wells Fargo & Co (NYSE:WFC) from $50 to $56, even though WFC is the only one whose EPS estimates have been revised up and all three are rated Neutral. “We are fine-tuning…
This content is exclusively for paying members of Hedge Fund Alpha
Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha
Don’t have an account?
Subscribe now and get 7 days free!
