JPMorgan Trims Truist Financial Price Target by Almost 7%

JPMorgan Chase & Co. has reduced its price target for Truist Financial (NYSE:TFC) from $54.00 to $50.50, according to a report issued on Friday.

The brokerage firm's new target suggests a potential upside of 8.92% from the company's current price.

This is not the only recent revision to Truist Financial's price target; Bank of America reissued a 'neutral' rating and raised its target price from $54.00 to $56.00 in a report on July 8th, while UBS Group downgraded the stock from a 'buy' rating to a 'neutral' rating and lowered their price objective from $58.00 to $55.00 in a research report on July 7th.

Truist Financial's stock has been trading at around $46.37, with an average volume of 8,748,002 shares. The company has a market cap of $56.64 billion and a P/E ratio of 10.63.