South State price target lowered to $103 from $111 at Truist

Truist lowered the firm’s price target on South State (SSB) to $103 from $111 and keeps a Hold rating on the shares. Net interest income should continue to benefit from fixed rate loan repricing and lower deposit costs as the balance sheet is slightly liability sensitive, the analyst tells investors in a research note. Truist believes the stock is close to fairly valued.