Synovus price target raised to $38 from $31 at Truist

Truist raised the firm’s price target on Synovus to $38 from $31 and keeps a Buy rating on the shares after the company’s updated Q4 and 2024 guidance. The analyst is citing expectations of higher net interest margin and fee income, the announced securities portfolio restructuring and recurring benefits from the expanded relationship with GreenSky in boosting the firm’s price target.