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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 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/25/2024 09:44:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/25/2024 01:58:39 PM
- Truist declares common and preferred stock dividends • PR Newswire (US) • 07/23/2024 05:30:00 PM
- US Index Futures Advanced, Oil Prices Inch Higher • IH Market News • 07/22/2024 10:06:47 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/22/2024 10:02:40 AM
- Truist reports second quarter 2024 results • PR Newswire (US) • 07/22/2024 10:00:00 AM
- Truist reports second quarter 2024 results • PR Newswire (Canada) • 07/22/2024 10:00:00 AM
- Truist reports second quarter 2024 results • PR Newswire (US) • 07/22/2024 10:00:00 AM
- Truist announces planned capital distributions and stress capital buffer requirement following release of 2024 CCAR results • PR Newswire (US) • 06/28/2024 08:30:00 PM
- Jobs for the Future Partners with Truist Foundation to Accelerate Economic Mobility in Several Regions Across the United States • PR Newswire (US) • 06/26/2024 12:37:00 PM
- Truist announces second-quarter 2024 earnings call details • PR Newswire (US) • 06/20/2024 12:00:00 PM
- Truist Foundation fills gap, distributes grants to pilot and scale nonprofit solutions nationwide • PR Newswire (US) • 05/30/2024 12:30:00 PM
- Truist CFO to speak at the Morgan Stanley US Financials, Payments & CRE Conference • PR Newswire (US) • 05/29/2024 12:30:00 PM
- Truist announces redemption of senior notes due June 2025 • PR Newswire (US) • 05/28/2024 08:30:00 PM
- Truist Chairman & CEO to speak at the Bernstein Strategic Decisions Conference • PR Newswire (US) • 05/16/2024 01:24:00 PM
- Truist announces quarterly 2025 earnings conference call dates • PR Newswire (US) • 05/13/2024 03:08:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/10/2024 08:15:50 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/10/2024 12:30:37 PM
- 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
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