Synovus price target lowered to $51 from $54 at Stephens

Stephens lowered the firm’s price target on Synovus (SNV) to $51 from $54 and keeps an Equal Weight rating on the shares. Based on an operating EPS and PPNR beat, the firm raised its FY25 and FY26 operating EPS estimates, but lowered its price target consistent with a revised lower Pinnacle Financial (PNFP) price target of $97 from $104 due to the pending acquisition of Synovus by Pinnacle.