Truist Financial price target raised to $45 from $42 at Jefferies

Jefferies raised the firm’s price target on Truist Financial (TFC) to $45 from $42 and keeps an Underperform rating on the shares following “a mixed quarter.” Core EPS came in ahead of expectations, but a softer Q2 pre-provision net revenue outlook weighs on sentiment, though earnings cadence should improves in the second half as fee growth, lower taxes, and higher buybacks offset margin pressure, the analyst tells investors.