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.
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