Truist Financial falls after Wells Fargo downgrades rating

Truist Financial

21/08/2025 14:57

** Shares of U.S. bank Truist Financial TFC.N down 1.1% at $43.89

** Wells Fargo downgrades rating on TFC to "equal weight" from "overweight", saying company's new 5-year strategic plan comes with no new metrics and mirror peers' approach

** TFC still seems behind on technology and customer acquisition, brokerage says

** "A key focus is to better serve mass affluent clients wealth offerings. However, TFC has lagged in a highly competitive wealth space" - Wells Fargo

** Ten of 23 brokerages rate the stock "buy" or higher, 13 "hold"; median PT is $48 - data compiled by LSEG

** Including session's moves, shares up ~2.3% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)

 ((Prakhar.srivastava2@thomsonreuters.com))