Stephens lowered the firm’s price target on Pinnacle Financial (PNFP) to $104 from $133 and keeps an Equal Weight rating on the shares after updating estimates for the pending Synovus (SNV) merger of equals, raising its FY26 operating EPS estimate to $10.35 from $8.55. There are “merits to the combination, but they will take time to bear out,” the analyst tells investors.
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Read More on PNFP:
- Synovus downgraded to Market Perform from Outperform at Raymond James
- Pinnacle Financial price target lowered to $125 from $140 at Barclays
- Synovus price target lowered to $65 from $70 at Barclays
- Pinnacle Financial Partners Announces Merger with Synovus
- BofA moves to No Rating on Synovus after Pinnacle deal announcement