In a report released today, Michael Rose from Raymond James upgraded Pinnacle Financial Partners to a Buy, with a price target of $120.00.
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Michael Rose has given his Buy rating due to a combination of factors that suggest a promising future for Pinnacle Financial Partners. Firstly, the operating environment for regional and small to mid-sized banks is becoming more favorable, which bodes well for PNFP. The anticipated merger with Synovus, despite skepticism about its long-term success, presents a significant opportunity for growth and improved performance once integration is complete.
Additionally, the management team has been proactive in retaining and recruiting talent, which is crucial for the successful execution of the merger. The expected upward adjustment of the $100 billion asset threshold in 2026 could reduce the costs associated with LFI readiness. Furthermore, PNFP’s loan and deposit growth are projected to surpass that of its peers, and its profitability metrics are expected to be favorable. Despite the inherent risks, Rose believes that the stock’s current valuation offers considerable upside potential as confidence in the merger’s success builds.
In another report released on December 9, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $107.00 price target.