Wells Fargo raised the firm’s price target on Pinnacle Financial to $104 from $100 and keeps an Equal Weight rating on the shares. Securities restructuring in Q2 and a strong quarter for deposit growth helped drive a net interest income beat, which coupled with a lower provision and better fees drove a strong Q3 result, the firm says. Wells notes expectations are higher heading into year-end, with more riding on accelerating loan growth in 2025, but current trends are encouraging.
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Read More on PNFP:
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