** U.S. Bancorp USB.N announced on Tuesday that current President Gunjan Kedia would become its CEO, effective April 15, succeeding Andy Cecere
** USB shares closed down 2.2% on Tuesday
FASTER TIMING
** Piper Sandler ("overweight" PT: $55) says transition is occurring faster than anticipated, but expects a seamless one as Kedia was the heir-apparent and knows the bank's inside-and-out
** Adds that Kedia is becoming CEO at a pivotal time for USB as it turns the corner from a multi-year investment phase to revenue growth
** BofA Global Research ("buy", PT: $57) says CEO transition announcement was somewhat surprising timing wise
** Adds that given Kedia became USB's president in May, the assumption was that it would likely be another one to two years before a CEO transition was announced
** Truist Securities ("hold", PT: $54) says there's an emerging feeling within investors that a shot-in-the-arm is needed as USB stock lags peers
** Morgan Stanley ("overweight", PT: $59) doesn't anticipate a significant shift in strategy, given Kedia's active role in shaping USB's direction as part of current management
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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