Synovus upgraded to Outperform from Market Perform at Raymond James

Raymond James upgraded Synovus (SNV) to Outperform from Market Perform with a $62 price target The bank’s Q2 results exceeded estimates and it increased the majority of its 2025 outlook, the analyst tells investors in a research note. The firm says it misjudged Synovus’ loan growth momentum, fee income progress, and the impact on credit metrics from de-risking efforts. Raymond James adds the stock continue to trade at a discount to peers despite the recent rally. It views the risk/reward positively at current levels.