Morgan Stanley analyst Betsy Graseck raised the firm’s price target on Truist Financial to $43 from $38 and keeps an Equal Weight rating on the shares. The analyst upgraded the large cap bank group to Attractive, saying it looks like Basel endgame “will be lightened.” This opens the door for a significant increase in buybacks, as large cap banks have the highest excess capital levels ever, at a time when the capital markets are rebounding, the analyst tells investors in a research note.
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Read More on TFC:
- Truist declares common and preferred stock dividends
- Truist Financial price target raised to $42 from $40 at RBC Capital
- Truist Financial price target raised to $45 from $43 at BofA
- Truist Financial price target raised to $38 from $37 at Piper Sandler
- Truist Financial sees FY24 revenue down 1%-3% vs. FY23, consensus $22.97B
