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Truist Financial (TFC) Receives a Rating Update from a Top Analyst

Tipranks - Tipranks - Thu Jun 25, 8:52PM CDT

RBC Capital analyst Gerard Cassidy maintained a Buy rating on Truist Financial on June 22 and set a price target of $53.00. The company’s shares closed yesterday at $48.76.

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According to TipRanks, Cassidy is a top 100 analyst with an average return of 15.5% and a 73.36% success rate. Cassidy covers the Financial sector, focusing on stocks such as Citigroup, Fifth Third Bancorp, and JPMorgan Chase.

In addition to RBC Capital, Truist Financial also received a Buy from Stephens’s Andrew Terrell in a report issued on June 15. However, on June 16, Barclays maintained a Sell rating on Truist Financial (NYSE: TFC).

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Based on Truist Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.41 billion and a net profit of $1.48 billion. In comparison, last year the company earned a revenue of $7.38 billion and had a net profit of $1.26 billion

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