Pinnacle Financial price target raised to $121 from $113 at UBS

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.