According to Citigroup, shares of Truist Financial are poised to rise 60% after recent losses. Analyst Keith Horowitz upgraded the bank stock to buy from neutral, saying investors were wrong about Truist’s deposit outlook. “TFC bear case is all about high HTM [held-to-maturity] We think this argument is flawed relative to the loss of equity. Our view is that the outlook for deposits is good, meaning that securities can be held to maturity at par with no loss (just that the opportunity cost reduces net interest margins over time),” Horowitz said Wednesday. The letter to clients read. “Given recent price action we view this as an attractive entry point and upgrade TFC to Buy,” he said. As investors worried about contagion following the collapse of a Silicon Valley bank. Analysis The division’s $52 price target implies shares could rise 63% from Tuesday’s close of $31.88. The stock was down 2% in premarket Wednesday. The analyst said Truist will not be forced to sell securities to stay afloat.” Given TFC and new The BTFP program has a very different deposit mix, TFC seems unlikely to be forced to sell securities, so it’s not clear why the market is so overly focused on this issue, rather than possibly looking for F to find the next SVB, but TFC is a fundamentally different bank, so this It’s an apples-to-oranges comparison,” Horowitz said. TFC 5D mountain Truist stock 5-day — CNBC’s Michael Bloom contributed to this report.