Truist Securities cuts PT on lender Fifth Third Bancorp (FITB.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

BUZZ-Truist trims Fifth Third Bancorp PT, flags softer-than-expected Q1 outlook