Truist Financial resumed with an In Line at Evercore ISI

Evercore ISI resumed coverage of Truist Financial with an In Line rating and $44 price target. The company’s modestly bolstered capital levels are a net positive, though its capital management likely remains conservative amid the uncertain backdrop, the analyst tells investors in a research note. While Truist’s net interest income trajectory is likely to benefit from the announced securities repositioning, the reinvestment poses a degree of risk amid the still volatile rate backdrop, the firm added.