DA Davidson analyst Kevin Fitzsimmons raised the firm’s price target on Synovus to $37 from $34 and keeps a Buy rating on the shares after its Q2 results. The analyst cites a higher assumed earnings multiple for the stock as well as a “healthy” rebound in the shares over the past few months, though the firm also cuts its FY23 EPS view by 24c to $4.38 on lower outlook for net interest income and further expected net interest margin pressure in Q3.
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