Analyst Ebrahim Poonawala from Bank of America Securities reiterated a Buy rating on Synovus and increased the price target to $68.00 from $67.00.
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Ebrahim Poonawala’s rating is based on Synovus’s strong financial performance and strategic positioning. The company reported a significant earnings per share (EPS) beat in the second quarter of 2025, surpassing both Bank of America and consensus estimates. This was largely driven by higher fee income and lower provisions, leading to an upward revision of the full-year 2025 revenue guidance.
Additionally, Synovus is well-positioned for future growth due to its strategic investments in increasing banker headcount and its presence in rapidly growing regions of the U.S. The company’s valuation appears attractive compared to peers, and its strong credit profile and capital levels further support the Buy rating. The potential for mergers and acquisitions could also enhance its growth prospects, making it a compelling investment opportunity.
In another report released today, Raymond James also upgraded the stock to a Buy with a $62.00 price target.