** Morgan Stanley upgrades U.S. bank Truist Financial Corp TFC.N to "overweight" from "equal weight"; raises PT to $69 from $56

** New PT implies a 32.9% upside to stock's last close

** Brokerage cites wholesale bank acceleration underway, with fees and loan growth poised to speed up following leadership and structural changes

** Primary customers of wholesale banks are businesses, financial institutions or governments, not retail consumers

** Before its 2024 sale, Truist Insurance Holdings (TIH) generated roughly a third of Truist’s total fee income; with TIH gone, Truist now leans primarily on three fee engines: investment banking and trading, treasury management and wealth management - Brokerage

** 12 of 22 analysts rate stock "strong buy" or "buy", 9 "hold" and 1 "sell"; median PT is $56 - data compiled by LSEG

** Including session's moves, TFC up 11.6% in the last 12 months