Synovus initiated with an Equal Weight at Stephens

Stephens initiated coverage of Synovus with an Equal Weight rating and $40 price target. At $59B in assets and the largest bank headquartered in Georgia, Synovus is in the sweet spot asset size-wise with ample runway to take share given the incremental capital requirements on the horizon for banks with $100B+ in assets, the analyst tells investors in a research note.