Truist Financial price target raised to $51 from $47 at Citi

Citi analyst Keith Horowitz raised the firm’s price target on Truist Financial (TFC) to $51 from $47 and keeps a Neutral rating on the shares. The firm believes Truist’s cost of equity will support peak multiples in the near term. The underlying story at Truist skews positive given its strong capital position and presence in attractive markets that are poised to benefit from a rebound in loan demand, the analyst tells investors in a research note. However, Citi remains cautious on the timing for an attractive entry point given no clear catalyst to drive a near-term re-rating and no upside to numbers.