Truist Financial upgraded to Buy from Neutral at Citi

Citi upgraded Truist Financial (TFC) to Buy from Neutral with a price target of $55, up from $44. The firm believes the market has often “over-ascribed liability sensitivity” to Truist, so incremental upside on net interest income in the “higher-for-longer” interest rate environment may drive a positive reaction on earnings day. Citi expects to see the bank’s return on tangible common equity improvement in 2026 to 13% and sees some upside to Street estimates on expense discipline, credit costs, and higher buybacks. This should drive upside in the name as a clearer picture for 2026 numbers emerges,” the analyst tells investors in a research note.