BUZZ-Truist trims Fifth Third Bancorp PT, flags softer-than-expected Q1 outlook
Reuters03-13 20:19
BUZZ-Truist trims <a href="https://laohu8.com/S/FITBM">Fifth Third Bancorp</a> PT, flags softer-than-expected Q1 outlook
** Truist Securities cuts PT on lender Fifth Third BancorpFITB.O to $53 from $60, still a 21.5% upside to stock's last close
** Says Q1 guidance softer than expected and a poor look for a stock supposed to be a "beat and raise" story
** FITB forecast Q1 NII of $1.93 billion, Q1 average loans and leases of $158 billion to $159 billion, according to SEC filings
** 16 of 22 analysts rate stock "strong buy" or "buy" and 6 "hold"; median PT is $57 - data compiled by LSEG
** As of last close, FITB down 6.8% YTD
(Reporting by Pragyan Kalita in Bengaluru)
((Pragyan.Kalita@thomsonreuters.com;))
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