Pinnacle Financial price target lowered to $114 from $119 at Truist

Truist lowered the firm’s price target on Pinnacle Financial (PNFP) to $114 from $119 and keeps a Buy rating on the shares as part of a broader research note on Regional and Universal Banks. Despite the macro concerns and structural issues that have been dragging down sentiment on bank stocks lately, including war, rates, stagflation, AI displacement, and private credit, the recent updates on the quarter have been fairly positive, and the tone from management teams sounds constructive on the full year ahead, the analyst tells investors in a research note.