Betsy Graseck, an analyst from Morgan Stanley, maintained the Hold rating on Truist Financial (TFC – Research Report). The associated price target remains the same with $43.00.
Betsy Graseck’s rating is based on a combination of factors that reflect both positive and challenging aspects of Truist Financial’s performance. The bank’s earnings per share exceeded expectations slightly due to effective expense management, and there was a modest increase in loan growth after a period of stagnation. These positive developments were supported by higher fee income and a reduction in expenses.
However, there are also some concerns that led to the Hold rating. The outlook for net interest margin is lower, and there is an anticipated increase in the tax rate, which could impact future earnings. Additionally, the full-year revenue guidance has been revised downward, indicating potential challenges in investment banking and trading activities. Despite these mixed signals, the price target remains unchanged, suggesting a balanced view of the bank’s prospects.
In another report released on April 17, Evercore ISI also maintained a Hold rating on the stock with a $45.00 price target.
TFC’s price has also changed moderately for the past six months – from $42.950 to $35.900, which is a -16.41% drop .