Wells Fargo Maintains Overweight on Truist Finl, Lowers Price Target to $40
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Mike Mayo has maintained an Overweight rating on Truist Finl (NYSE:TFC) but lowered the price target from $42 to $40.
July 21, 2023 | 11:13 am
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NEUTRAL IMPACT
Truist Finl's price target has been lowered from $42 to $40 by Wells Fargo, though the Overweight rating is maintained.
The news directly pertains to Truist Finl as Wells Fargo has lowered its price target for the company. However, the Overweight rating suggests that the analyst still sees potential upside, which may offset the negative impact of the lowered price target. Therefore, the short-term impact on the stock price is likely to be neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Wells Fargo has lowered its price target for Truist Finl from $42 to $40, while maintaining an Overweight rating.
The news is relevant to Wells Fargo as it reflects the bank's analysis and outlook on Truist Finl. However, as this is a routine part of Wells Fargo's operations, the impact on its own stock price is likely to be minimal in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50