Truist Financial price target raised to $51 from $47 at HSBC

HSBC analyst Saul Martinez raised the firm’s price target on Truist Financial (TFC) to $51 from $47 and keeps a Buy rating on the shares. The analyst is more cautious on universal banks and brokers following the recent rally in the shares. HSBC recommends a more constructive stance on super-regionals. While operating fundamentals in the banks and broker group appear healthy, share valuations are “increasingly stretched,” the analyst tells investors in a research note.