UBS analyst Nicholas Holowko raised the firm’s price target on Pinnacle Financial (PNFP) to $121 from $113 and keeps a Neutral rating on the shares as part of a broader research note previewing Q2 results for mid-cap banks. The firm started this year with caution optimism on the belief that capital-rich and higher growth peers are poised to take advantage of a commercial lending rebound, the analyst tells investors in a research note. The back half of the year is where these trends may start playing out, especially if lending outlooks follow through with back half growth, the firm added.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PNFP:
- Pinnacle Financial price target raised to $140 from $125 at Barclays
- Pinnacle Financial price target raised to $134 from $126 at Citi
- Pinnacle Financial price target raised to $125 from $115 at JPMorgan
- Pinnacle Financial initiated with a Buy at Jefferies
- Pinnacle Financial initiated with a Buy at Truist