UPDATE: Raymond James Upgrades Synovus Financial (SNV) to Strong Buy

April 4, 2019 6:08 AM EDT
Get Alerts SNV Hot Sheet
Price: $40.73 -0.27%

Rating Summary:
    17 Buy, 7 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 25 | Down: 35 | New: 109
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(Updated - April 4, 2019 7:38 AM EDT)

(updated to add analyst comments)

Raymond James analyst David Long upgraded Synovus Financial (NYSE: SNV) from Outperform to Strong Buy with a price target of $44.00.

  • recent pullback in the stock
  • outsized opportunity for market share gain stemming from the recently announced BBT-STI mega merger
  • Synovus is well positioned given its size, scale, scope of banking activities, and positioning as the largest Georgia-based bank once the mega merger is complete
  • FCB acquisition provides financial flexibility to make outsized investments without having a material impact on profitability or efficiency

For an analyst ratings summary and ratings history on Synovus Financial click here. For more ratings news on Synovus Financial click here.

Shares of Synovus Financial closed at $35.17 yesterday.

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