Fifth Third Bancorp (FITB, Financial) has experienced a downward revision in its price target by DA Davidson, reducing it from $45 to $42 while maintaining a Neutral rating on the stock. This adjustment comes as the company adopts a more cautious stance on the economic outlook.
Unlike many of its counterparts, Fifth Third has updated its projections to reflect a more fragile and uncertain economic environment, leading to a decreased guidance on fee income. This move indicates the company's anticipation of potential challenges in the broader economic landscape.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 20 analysts, the average target price for Fifth Third Bancorp (FITB, Financial) is $45.67 with a high estimate of $53.00 and a low estimate of $39.00. The average target implies an upside of 36.34% from the current price of $33.50. More detailed estimate data can be found on the Fifth Third Bancorp (FITB) Forecast page.
Based on the consensus recommendation from 23 brokerage firms, Fifth Third Bancorp's (FITB, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Fifth Third Bancorp (FITB, Financial) in one year is $41.90, suggesting a upside of 25.07% from the current price of $33.5. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Fifth Third Bancorp (FITB) Summary page.
