Synovus price target lowered to $49 from $53 at UBS

UBS lowered the firm’s price target on Synovus (SNV) to $49 from $53 and keeps a Neutral rating on the shares. While investors are likely to remain cautious on success of the pending merger-of-equals over the near-term, the company’s management team is putting their best feet forward in setting up the combined company for success on the other side of the close, the analyst tells investors in a research note.