Stephens analyst Russell Gunther lowered the firm’s price target on Synovus (SNV) to $54 from $60 and keeps an Equal Weight rating on the shares after the company announced its sale to Pinnacle Financial (PNFP) in an all-stock transaction. The firm updated its pro forma Pinnacle estimates and subsequently revised its price target on those shares to $104 from $133, the analyst noted.
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