Raymond James Upgrades Truist Financial (TFC) to Outperform

Raymond James analyst Michael Rose upgraded Truist Financial (NYSE: TFC) from Market Perform to Outperform with a price target of $50.00.

The analyst comments "Upgrading TFC to Outperform: We are upgrading TFC shares from Market Perform to Outperform and establishing a $50 price target. Our upgrade reflects its positive tone at an intra-quarter investor conference where it voiced confidence in its low-single-digit loan growth outlook, noted improved activity/sentiment in its investment bank following a steep revision to its 2025 outlook with 1Q25 earnings, tailwinds from the deregulatory regime which could lead to a quicker-than-expected decline in its capital levels, thus driving progress toward its mid-teens ROTCE target (as share repurchases/dividends continue), and an attractive valuation relative to historical averages coupled with its notable YTD underperformance versus peers/the BKX (+6.6% versus +13.0% for the BKX / peer group average). In turn, we now see a positive risk-reward dynamic for TFC shares where we believe a rotation from the mega-/investment-banks (who have meaningfully outperformed this year) into regional banks (who have largely underperformed) would play into their hands."

For an analyst ratings summary and ratings history on Truist Financial click here. For more ratings news on Truist Financial click here.

Shares of Truist Financial closed at $45.16 yesterday.

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