Synovus price target raised to $45.50 from $42.50 at DA Davidson

DA Davidson analyst Kevin Fitzsimmons raised the firm’s price target on Synovus to $45.50 from $42.50 and keeps a Buy rating on the shares. The analyst cites the company CEO calling for incrementally more favorable guidance on Q4 net interest income and core pre-provision net revenue thanks to stronger than anticipated growth in loans and core deposits, as well as deposit betas holding up a bit better than projected.