JPMorgan raised the firm’s price target on Truist Financial (TFC) to $46 from $40.50 and keeps a Neutral rating on the shares as part of a Q2 preview for the large cap banks. The firm attributes the recent outperformance of the large bank stocks to hope for a continued good economy and regulatory benefits with some reduction in capital requirements. In the near term, JPMorgan expects large bank stocks to remain in a narrow range due to “moderate fundamentals” and above average valuations.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TFC:
- Truist Financial downgraded to Market Perform from Outperform at Keefe Bruyette
- Truist Financial unveils Truist Merchant Engage
- Truist Financial price target raised to $51 from $47 at HSBC
- Truist Financial upgraded to Outperform from Market Perform at Raymond James
- Truist Financial price target raised to $47 from $43 at Morgan Stanley