Pinnacle Financial price target lowered to $93 from $100 at Truist

Truist analyst Brandon King lowered the firm’s price target on Pinnacle Financial to $93 from $100 but keeps a Buy rating on the shares after its Q4 results. The company’s plan to accelerate hiring will drive strong loan and deposit growth for the foreseeable future, supporting net interest income upside, the analyst tells investors in a research note. Truist adds however that it expects expenses and higher provisioning to limit EPS growth potential in 2024.