Synovus price target lowered to $42 from $46 at Piper Sandler

Piper Sandler lowered the firm’s price target on Synovus to $42 from $46 and keeps an Overweight rating on the shares. The company’s Q1 results missed estimates and the firm thinks it will take a few quarters of steady results for investors to get back on board with the Synovus story. Piper continues to view Synovus as an undervalued name that should see a good earnings trajectory in a higher for longer environment.