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Odeon Capital: Fifth Third may have trouble growing net income in short term

Initiation

Odeon Capital Group analyst Dick Bove initiated coverage of Cincinnati-based Fifth Third Bancorp, writing that while the company "is the type of stock one should own" in the long term, it could face trouble growing net income in the short term.

"It will have to rely on financial engineering, hedging strategies, and market strength rather than growth in the core businesses to maintain its earnings per share while net income flatlines," Bove wrote.

The analyst initiated coverage of the company's stock with a "hold" rating.