Keefe Bruyette upgraded Truist Financial to Market Perform from Underperform with a price target of $45, down from $47. The analyst says "optionality" from the company’s insurance subsidiary limits further downside in the shares. Truist has a "bank-only downside valuation" of approximately $37 per share, just 6% below current levels, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on TFC:
- Truist Financial management to meet with Jefferies
- Truist Financial to sell 20% stake in Truist Insurance for $1.95B
- Truist laid off 5% of investment banking division, Bloomberg reports
- Truist Financial increases prime rate to 7.75%
- Truist Financial downgraded to Equal Weight at Stephens following outperformance