Wednesday, March 15, 2023 8:37:13 AM
7:26 am ET March 15, 2023 (MarketWatch)
Citi analyst Keith Horowitz on Wednesday upgraded Truist Financial Corp. (TFC) to buy despite headwinds in the market on earnings challenges and potential regulatory action. Horowitz said Truist stock now offers an attractive entry point after a 27% loss in the last five days. "The primary risk to our thesis is depositor behavior given market reactions, which could induce deposit flight, but we view this as relatively unlikely," he said. "The TFC bear case is all about high held-to-maturity (HTM) losses relative to equity and we believe this thesis is flawed." He said Truist is a "fundamentally different bank" than now-defunct Silicon Valley Bank. Truist stock is down 2.6% in premarket trades as jitters around Credit Suisse (CSGN.EB) and bank solvency weighed on bank stocks.
-Steve Gelsi
Truist Financial Raised to Buy From Neutral by Citigroup target $52
Recent TFC News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 09:30:46 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 11:07:58 AM
- Truist completes previously announced sale of Truist Insurance Holdings to investor group led by Stone Point Capital and CD&R • PR Newswire (US) • 05/07/2024 11:05:00 AM
- Truist completes sale of Truist Insurance Holdings and executes strategic balance sheet repositioning • PR Newswire (US) • 05/07/2024 11:00:00 AM
- Truist survey shows small business owners focused on short-term challenges at the expense of long-term planning • PR Newswire (US) • 05/01/2024 12:30:00 PM
- Truist launches "Truist Life, Money, and Choices™" financial education program for high school and college students • PR Newswire (US) • 04/29/2024 12:30:00 PM
- Truist Foundation names Centro Community Partners as top grant recipient at the Inspire Awards • PR Newswire (US) • 04/25/2024 11:00:00 AM
- Truist declares common and preferred stock dividends • PR Newswire (US) • 04/23/2024 05:47:00 PM
- Truist shareholders elect Laurence Stein to board of directors • PR Newswire (US) • 04/23/2024 03:51:00 PM
- U.S. Index Futures Surge While Wall Street Eyes Rebound on Earnings Focus, Oil Prices Slip • IH Market News • 04/22/2024 12:09:47 PM
- Truist reports first quarter 2024 results • PR Newswire (Canada) • 04/22/2024 10:00:00 AM
- Truist reports first quarter 2024 results • PR Newswire (US) • 04/22/2024 10:00:00 AM
- Sheffield Financial and BRP extend long-term retail financing partnership in the United States • PR Newswire (US) • 04/08/2024 12:30:00 PM
- Truist announces first-quarter 2024 earnings call details • PR Newswire (US) • 03/28/2024 12:00:00 PM
- Form ARS - Annual Report to Security Holders • Edgar (US Regulatory) • 03/11/2024 10:12:11 AM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 03/11/2024 10:09:57 AM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 03/11/2024 10:08:18 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 06:20:43 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/07/2024 05:45:39 PM
- Truist Securities bolsters industrials sector equity research • PR Newswire (US) • 03/07/2024 01:00:00 PM
- Truist updates schedule for 2024 earnings conference calls • PR Newswire (US) • 03/05/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 08:55:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 08:52:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 08:49:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 08:45:03 PM
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