** Truist raises PT on Madrigal Pharmaceuticals MDGL.O to $709 from $640, reiterates "buy" rating

** Brokerage says its physician survey points to a larger opportunity for Rezdiffra, MDGL's drug for metabolic dysfunction-associated steatohepatitis (MASH), a fatty liver disease that can cause scarring of the organ

** Says its survey showed physicians prefer Rezdiffra for MASH, citing its safety profile

** Adds the survey also showed physician interest in combining Rezdiffra with incretin drugs, a class of metabolic medicines

** Truist raises its U.S. peak estimate for MASH patients on Rezdiffra to 193,000 from 158,000

** Truist lifts its worldwide peak adjusted revenue estimate for Rezdiffra to $8.9 billion from $7.7 billion

** As of last close, MDGL down 12.4% YTD