Baird upgraded Truist Financial (TFC) to Outperform from Neutral with an unchanged price target of $52. The firm believes the recent weakness in bank socks creates more attractive risk/reward trade-offs. There is a “margin of safety” in many regional banks at current prices, as capital is in good shape and credit trends are solid, the analyst tells investors in a research note. Baird believes now is a good time to add to or take positions in bank regionals. It upgraded three names and added a “Fresh Pick designation” on Huntington Bancshares.
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