Synovus price target raised to $45 from $44 at DA Davidson

DA Davidson transferred coverage of Synovus to analyst Gary Tenner, who raised the firm’s price target to $45 from $44 while keeping a Buy rating on the shares. The analyst states that following an eventful 2023, the firm sees a generally positive trajectory for 2024 as it relates to top line revenue, modestly positive core fee income, and well-controlled expenses. The tailwind of repricing fixed rate loans is a positive for 2024 and beyond, the firm added.