Wells Fargo Downgrades Truist Financial (TFC) Over Growth Strategy
Truist Financial Corporation (NYSE:TFC) is one of the best dividend stocks to buy. On August 21, Wells Fargo downgraded Truist Financial from Overweight to Equal Weight, but left the price target at $47. The downgrade follows Truist’s decision to initiate a five-year strategy focused on growth. Even though the plan does not set new financial metrics, it adheres to the goals of positive operating leverage and mid-teen ROTCE. The company has also paid dividends for 53 consecutive years, currently yielding 4 ...