Pinnacle Financial Partners (PNFP) PT Raised at KBW on Revenue Growth Outlook

Keefe, Bruyette & Woods analyst Catherine Mealor raised the price target on Pinnacle Financial Partners (NASDAQ: PNFP) to $100.00 (from $95.00) while maintaining a Market Perform rating.

The analyst commented: "We are lowering 2026E EPS ahead of earnings (2027E is unchanged at $11.30) to take into account higher loan growth in 2026E to 8% from 6.5% offset by a slower securities/liquidity build and lower buybacks in 2026E. Our expense assumptions remain above consensus. Our PT moves to $100 (from $95) to reflect the above average revenue growth expected and higher peer multiples (1.6x pro forma TBV, 9.5x '26E EPS and 9x '27E EPS), although we remain somewhat cautious, as we believe the company is setting a high bar for growth targets for an integration year, and we believe consensus is too low on expenses. "

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