US Bancorp rises after HSBC upgrades to 'buy'

** Shares of lender US Bancorp USB rise as much as 1.8%, last up 1.6% at $44.72

** HSBC Securities upgrades USB to "buy" from "hold"; raises PT to $53 from $47, a ~20.5% upside to the last close

** Brokerage says USB shares have underperformed most large-cap banks, creating a buying opportunity given its attractive valuation

** HSBC expects net interest income (NII) growth to resume in the second half of 2024 as deposit costs peak

** Expect USB to deliver improved profitability in 2025 driven by NII growth, merger savings, share buybacks, and good fee growth - brokerage

** USB is our preferred choice among US super-regional banks - HSBC

** Thirteen of 26 brokerages rate the stock "buy" or higher and 13 "hold"; their median PT is $48 - LSEG data

** As of last close, USB shares were up 1.7% YTD