Stephens lowered the firm’s price target on Pinnacle Financial (PNFP) to $97 from $104 and keeps an Equal Weight rating on the shares. Despite what it calls an “increasingly attractive relative valuation,” the firm remains on the sidelines given what it sees as heightened execution risk, extended time from close to conversion, and “creating a CAT-IV bank overnight” via the merger with Synovus (SNV).
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PNFP:
- Synovus price target lowered to $51 from $54 at Stephens
- Pinnacle Financial price target lowered to $100 from $110 at Wells Fargo
- Pinnacle Financial upgraded to Outperform from Market Perform at Hovde Group
- Pinnacle Financial reports Q3 EPS $2.27, consensus $2.04
- Pinnacle Financial Partners (PNFP) Q3 Earnings Cheat Sheet