Fifth Third price target raised to $57 from $53 at Truist

Truist raised the firm’s price target on Fifth Third (FITB) to $57 from $53 and keeps a Buy rating on the shares as part of a broader research note updating the firm’s models on Regional Banks following Q1 results. The firm is bumping up its price targets as recession risks recede and the cost of equity comes down, the analyst tells investors in a research note. For the company, Truist notes that net interest income and fee estimates have been moving in the right direction, and more recently credit as well.