Truist Financial

Truist Financial Corporation (NYSE: TFC) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/02/2024 13.79% Barclays $40 → $42 Maintains Equal-Weight 12/14/2023 9.59% Odeon Capital → $40.45 Upgrades Hold → Buy 12/08/2023 -7.88% Piper Sandler $31 → $34 Maintains Neutral 12/04/2023 2.95% Morgan Stanley $40 → $38 Maintains Equal-Weight 11/20/2023 -10.59% Evercore ISI Group $31 → $33 Maintains In-Line 10/20/2023 -16.01% Piper Sandler $32 → $31 Maintains Neutral 10/05/2023 -7.88% Raymond James $36 → $34 Maintains Outperform 10/03/2023 8.37% Morgan Stanley $41 → $40 Maintains Equal-Weight 09/21/2023 -2.47% Keefe, Bruyette & Woods $37 → $36 Upgrades Market Perform → Outperform 09/15/2023 -13.3% Piper Sandler $36 → $32 Downgrades Overweight → Neutral 09/12/2023 8.37% RBC Capital → $40 Reiterates Outperform → Outperform 09/07/2023 -21.43% HSBC → $29 Initiates Coverage On → Hold 08/27/2023 5.66% Citigroup $39 → $39 Maintains Buy 08/17/2023 -20.08% JP […]

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We decrease our 12-month target price by $1 to $30, 8.6x our 2024 EPS estimate, below TFC’s five-year forward P/E average of 11.0x, given weaker credit quality expectations. We raise our 2023 EPS estimate by $0.05 to $3.76 and increase 2024’s by $0.03 to $3.50. TFC posted adjusted Q3 EPS of $0.84 vs. $1.24 a year ago, $0.01 above consensus. Net interest income (-2% Q/Q) degradation slowed in the quarter as the bank saw 4 bps of improvement in its net interest margin. However, balance sheet optimization led to a 3% decline in loan balances as results reflect the sale of the bank’s student loan portfolio and a 6% drop in indirect auto. As a result, TFC saw a boost to its capital ratios (CET1 ratio +30