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U.S. Equity Research News
Winter Upgrades Fifth Third Bancorp (FITB) to OUTPERFORM from MARKET PERFORM
May 8, 2009
Peter J. Winter, senior research analyst in our Financial Institutions Group, has today upgraded Fifth Third Bancorp (FITB) to an OUTPERFORM rating from MARKET PERFORM.
From Winter's note: "Now that we know how much additional capital FITB needs to raise ($1.1 billion), given the government imposed equity cushion that allows it to absorb credit losses at the stress tested rates, we believe investors will begin to refocus on normalized earnings. FITB has the most earnings growth potential in our group as it begins to move closer to a more normalized level of provisioning in 2011."
To receive a full copy of the report, please contact your BMO Capital Markets representative.
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