TD Cowen upgraded Truist Financial (TFC) to Buy from Hold with a price target of $55, up from $48. The bank reported strong Q3 results on fees and accelerating loan growth, the analyst tells investors in a research note. The firm believes that with solid momentum exiting the quarter, Truist has reached an “inflection point” with a multi-year investment plan “signaling offense is now back on the field.” TD views the shares as “substantially undervalued” at current levels.
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