Dain Rauscher Wessels Upgrades Its Ratings On Firstar Corporation and U.S. Bancorp to Strong Buy.Business Editors NOTE TO EDITORS: The following is an investment opinion issued by Dain Rauscher MINNEAPOLIS--(BUSINESS WIRE)--Dec. 21, 2000 Dain Rauscher Wessels equity analyst Jon Arfstrom today upgraded its rating on Firstar Corp. (NYSE NYSE See: New York Stock Exchange : FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ), $23.19, to a Strong Buy-Average Risk rating from a Buy-Average Risk rating, and U.S. Bancorp  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. (NYSE: USB USB in full Universal Serial Bus Type of serial bus that allows peripheral devices (disks, modems, printers, digitizers, data gloves, etc.) to be easily connected to a computer. ), $29.00, to a Strong Buy-Average Risk rating from a Neutral rating. "Among the larger regional banks, asset quality is a major concern," Arfstrom said in a report. "Both Firstar and U.S. Bancorp appear to have non-performers and net charge-offs under control. As such, the combination [of the two companies] remains one of the asset quality bright spots among its peers. Additionally, we believe that the merger will close on schedule, and that among its regional banking peers, the deal represents one of the best combinations of earnings per share growth and upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar ." Firstar Corp. is a $74 billion bank holding company and U.S. Bancorp is an $86 billion bank holding company. The merger between the two companies is expected to close mid-Q1 of 2001. Arfstrom has a 6-month price target of $32 for Firstar Corp. and $40 for U.S. Bancorp. Institutional investors interested in receiving more information should contact their Dain Rauscher Wessels salesperson. Media interested in receiving Arfstrom's research should call 612-371-2239. The Dain Rauscher Wessels division includes equity research, equity trading In finance, equity trading is the buying and selling of company stock shares. Shares in large publicly-traded companies are bought and sold through one of the major stock exchanges, such as the New York Stock Exchange, London Stock Exchange or Tokyo Stock Exchange, which serve as , institutional equity sales and corporate finance. The division's 40 analysts focus on five industries: consumer, energy, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , health care and technology. Currently, the analysts follow more than 400 companies. The division, which employs 425 people, has offices in Austin, Texas; Boston; Chicago; Dallas; Houston; Menlo Park, Calif.; Minneapolis; New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ; Paris; San Francisco; Seattle; and Tel Aviv, Israel(a). Minneapolis-based Dain Rauscher Incorporated provides investment services to individual investors and small businesses through offices in 27 predominantly western states, investment banking services to corporations and municipalities nationwide, and trade clearing and settlement services to nonaffiliated broker-dealers throughout the United States and abroad. Dain Rauscher Incorporated, one of the nation's largest full-service securities firms, is a member of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and other major securities exchanges, as well as the Securities Investor Protection Corp. Dain Rauscher Corporation, its holding company, trades on the New York Stock Exchange under the symbol DRC DRC Democratic Republic of Congo DRC Down (Stage) Right Center DRC Director(ate) of Reserve Components DRC Disability Rights Commission (United Kingdom) . The company's headquarters are located at Dain Rauscher Plaza, 60 S. Sixth St. Dain Rauscher Incorporated managed or co-managed a public offering of the securities of U.S. Bancorp within the past three years. The author(s) of the report hold(s) a long position in the common shares of U.S. Bancorp. Additional information on the securities mentioned is available on request. This does not purport to be a complete statement of all material facts related to any company, industry, or security mentioned. The information provided, while not guaranteed as to accuracy or completeness, has been obtained from sources believed to be reliable. The opinions expressed reflect our judgment at this time and are subject to change without notice and may or may not be updated. DRI See Digital Research. , its officers, directors, affiliates, and/or employees (including the authors of this report) may from time to time have a long or short position in publicly or privately issued securities of companies mentioned or derivatives thereof and may sell or buy such securities for their own or related accounts. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which said offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. (a) Strategic alliance with Tamir Fishman & Co. |
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