BofA Raises PT on Truist Financial (TFC) to $50 From $46, Keeps a Buy Rating

Truist Financial Corporation (NYSE:TFC) is one of the best cheap stocks under $50 to buy now. On July 13, BofA analyst Ebrahim Poonawala raised the firm’s price target on Truist Financial Corporation (NYSE:TFC) to $50 from $46, keeping a Buy rating on the shares.

The firm told investors that it adjusted its regional bank price targets as part of a preview of the fiscal Q2 2025 earnings season.

The analyst further said in a research note that several factors are acting as catalysts for the stocks, including accelerated loan growth, an absence of interest rate cuts delaying growth rebound and yet “resilient” earnings emerging, and investment banking activity.

Truist Financial Corporation (NYSE:TFC) is a financial holding company that provides banking services to businesses, individuals, and municipalities. The company operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Other, Treasury and Corporate.

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Disclosure: None. This article is originally published at Insider Monkey.