Stephens resumed coverage of Truist Financial Corporation with an Overweight rating and a $59 price target on June 15. The firm also resumed coverage of eight other super-regional banks, expressing a broadly constructive outlook on the group, noting improved operating leverage over the past year and forecasting 2026 capital return at levels not seen since 2019, with potential acceleration pending Basel 3 Endgame proposals. Separately, Baird downgraded Truist Financial to Neutral from Outperform on May 1, keeping its price target at $55, citing valuation after a 17% share price increase from March lows and pointing to other banks with better pre-provision net revenue growth and earnings potential.
Truist Financial CorpStephens resumed coverage with Overweight rating and $59 price target, citing improved operating leverage and expected capital return.