Keefe Bruyette analyst Catherine Mealor lowered the firm’s price target on Pinnacle Financial (PNFP) to $95 from $125 and keeps a Market Perform rating on the shares. The long-term merits of the Synovus (SNV) transaction are compelling, but shares are likely to be range-bound near-term in the $90-$95 range as it will take time before the full benefits of the merger are seen, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PNFP:
- Keefe downgrades Synovus ahead of Pinnacle merger
- Pinnacle Financial Partners Faces Financial Risks Amid Potential Synovus Merger Collapse
- Pinnacle Financial director Thompson buys $856,500 of common stock
- Pinnacle Financial price target lowered to $104 from $133 at Stephens
- Synovus price target lowered to $54 from $60 at Stephens