Piper Sandler raised the firm’s price target on Truist Financial to $41 from $38 and keeps a Neutral rating on the shares. The firm is also updating its EPS estimates following last week’s disclosure that Truist had completed the sale of TIH and executed a balance sheet restructuring to help offset the related earnings loss. Even though Piper already had the sale and restructuring impact in its model, the net effect of the completed transactions was a little better than it had anticipated.
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