Citigroup (NYSE:C), JP Morgan Chase (NYSE:JPM), U.S. Bancorp (NYSE:USB), Bank of America (NYSE:BAC), PNC Financial (NYSE:PNC) and Wells Fargo & Co. (NYSE:WFC) got a 2012 outlook from Credit Suisse (NYSE:CS) analysts.
Credit Suisse reiterated its "Outperform" rating on Citigroup (C) for 2012. The major catalysts in its view is the potential of high capital returns via higher dividends and the probable resumption of a share buyback.
Credit Suisse reiterated its "Outperform" rating on JP Morgan Chase (JPM). Flexibility of capital, strong leadership, and a solid balance sheet should generate growth for the company.
Credit Suisse reiterated its "Outperform" rating on U.S. Bancorp (USB), citing a strong balance sheet and improved groth and profitability.
Credit Suisse has a price target of $11.00 on Bank of America (BAC) for 2012. That's 0.8 times forward tangible book value and 10.0 times 2012 EPS estimates. No share buyback is expected in 2012 for the giant bank.
Credit Suisse has a "Neutral" rating and price target of $68.00 on PNC Financial (PNC). No share buyback is expected in 2012 for PNC.
Credit Suisse has a "Neutral" rating and price target of $34.00 on Wells Fargo & Co. (WFC). Shrinking margins are a concern.
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