Plans and goals can be great things, but reaching them can be tricky and a set-up for disappointment. In the case of Fifth Third (NASDAQ:FITB),
management has had no problem laying out bold targets tied to its
Project North Star self-improvement plan, but recent performance creates
some valid questions about the magnitude of growth this Midwestern bank
can really achieve and where that growth will come from.
The
Street is already expecting a lot of improvement from Fifth Third, and I
struggle to see how these shares are a bargain. Even with a lower tax
rate, today’s share price more than rewards Fifth Third for the robust
Project North Star targets, as well as a healthy overall banking
environment.
Read more here:
Can Fifth Third Grasp All That It's Reaching For?
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