Evercore ISI resumed coverage of Truist Financial with an In Line rating and $44 price target. The company’s modestly bolstered capital levels are a net positive, though its capital management likely remains conservative amid the uncertain backdrop, the analyst tells investors in a research note. While Truist’s net interest income trajectory is likely to benefit from the announced securities repositioning, the reinvestment poses a degree of risk amid the still volatile rate backdrop, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TFC:
- Truist Financial Divests Insurance Unit, Restructures Investments
- Truist completes previously announced sale of Truist Insurance Holdings to investor group led by Stone Point Capital and CD&R
- Truist completes sale of Truist Insurance Holdings and executes strategic balance sheet repositioning
- Truist Financial price target raised to $40.50 from $39.50 at JPMorgan
- Truist Financial put volume heavy and directionally bearish