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Investing.com - DA Davidson raised its price target on Synovus Financial (NYSE:SNV) to $63.00 from $60.00 on Thursday, while maintaining a Buy rating on the regional bank’s stock. The new target aligns with the broader analyst consensus, as InvestingPro data shows analyst targets ranging from $54 to $67, with the stock currently trading at a P/E ratio of 15.2x.
The research firm cited the bank’s second-quarter performance as the primary driver for the upward revision of its 2025 earnings per share estimate, which increased from $5.17 to $5.50.
DA Davidson kept its 2026 earnings estimate unchanged at $5.51 per share, with the new price target representing an 11.5x multiple on the projected 2026 earnings.
The firm noted that bank stocks could benefit from multiple expansion as tariff concerns have begun to fade in the market.
DA Davidson also highlighted the current benign credit environment and improved growth outlook as additional factors supporting its positive stance on Synovus Financial.
In other recent news, Synovus Financial Corp reported better-than-expected earnings for the second quarter of 2025. The company achieved an earnings per share (EPS) of $1.48, surpassing the forecasted $1.26, resulting in a 17.46% positive surprise. Revenue also exceeded expectations, reaching $593.7 million compared to the projected $586.68 million. This performance reflects a continuation of Synovus’s positive trend, with a 28% year-over-year EPS increase. Additionally, Synovus anticipates loan growth of 4-6% for 2025, supported by its strategic initiatives and talent recruitment. The company has raised its adjusted revenue growth outlook to 5-7% for the year. Despite a decline in core deposits, Synovus maintained momentum in loan production, achieving a 60% increase in funded loan production year-over-year. Analyst firms have not made recent upgrades or downgrades, but Synovus’s strong financial performance has bolstered investor confidence.
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