Synovus price target raised to $40 from $33 at Wells Fargo

Wells Fargo raised the firm’s price target on Synovus to $40 from $33 and keeps an Overweight rating on the shares. The firm notes updated guidance calls for net interest income inflection in Q1 2024, and growing positive operating leverage through the year. Credit checks remain okay and EPS revision risk is likely to the upside. says Wells.