Jefferies initiated coverage of Truist Financial (TFC) with an Underperform rating and $35 price target The firm sees execution risk related to Truist achieving its ROTCE target of 15% in FY26 and believes intensifying competition in the Southeast may hinder loan and deposit growth, the analyst tells investors. Even if the ROTCE target is met, it would trail peers at 17% in FY27, the analyst added.
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