US Bancorp Runs on Rochdale/Bove (USB)

Posted in pre-market 
September 17th, 2009

US Bancorp (NYSE: USB) is up but is surprisingly not getting as much attention as we would have expected.  At 8:51 AM EST we have only seen 18,000 shares trade hands versus an average volume of 17 million shares.  The gain is only 1.5% at $23.15.  The news that is out is that Rochdale’s Dick Bove upgraded his old Neutral rating to a new BUY rating. The old $25 target was hiked to $28 as well.  Shares are still up over 100% from its March lows, but we would be looking for stock upside and a volume spike here as the open gets closer. JON OGG

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