Fifth Third Bancorp (FITB) NewsBite - BofA/Merrill Reinstates Coverage On FITB With Neutral Rating

Posted: Tuesday, October 13, 2009 12:06 PM EDT

Fifth Third Bancorp (NasdaqNM: FITB) opened at $10.20. So far today, the stock has hit a low of $9.98 and a high of $10.38. FITB is now trading at $10.17, down $0.02 (-0.2%). The stock hit its 52-Week high of $14.75 last October and set its 52-Week low of $1.01 in February. BofA/Merrill reinstated coverage on the stock today with a Neutral rating and set an $11 price target on the shares. Technical indicators for the stock are neutral and S&P gives FITB a neutral 3 STARS (out of 5) hold ranking. We will just watch this one for now. There are no hedged trades we like the look of for FITB. [ABR-Seven Summits Strategic Investments NewsBite]

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