PaineWebber Inc. analyst Thomas McCandless upgraded Fifth Third Bancorp on Tuesday to "buy" from "attractive," saying the stock is a bargain at its current price.

Shares of the Cincinnati-based bank rose 75 cents, to $49.75, on the news. Volume was 294,900 shares, compared with a daily average of 129,000 shares. Fifth Third also received an upgrade from Fred Cummings of McDonald & Co.

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