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Investing.com - DA Davidson has reiterated its Buy rating on Synovus Financial (NYSE:SNV) with a price target of $63.00. The target represents significant upside potential from the current price of $47.85, with analyst targets ranging from $50 to $65. According to InvestingPro data, 15 analysts have recently revised their earnings estimates upward for the upcoming period.
The research firm recently hosted a Fireside Chat with senior management teams from both Synovus Financial and Pinnacle Financial (PNFP) to discuss their pending acquisition transaction.
According to DA Davidson, the discussion primarily focused on culture and operating style differences between the two financial institutions, with financial aspects taking a secondary role in the conversation.
The timing of the transaction remains on schedule, with closing expected in the first quarter of 2026 and the first year of greater franchise integration anticipated in 2027.
DA Davidson noted that both management teams appear committed to making the acquisition successful and are approaching the integration process sensibly, with the research firm viewing the lack of geographic overlap between the institutions as a positive factor.
In other recent news, Pinnacle Financial Partners (NASDAQ:PNFP) announced plans to acquire Synovus Financial Corp, with the transaction expected to close in the first quarter of 2026, pending necessary approvals. Fitch Ratings has affirmed Pinnacle’s ratings but revised its outlook to negative following the merger announcement. Meanwhile, Synovus Financial has been exploring merger options after attracting interest from other parties, according to sources. Raymond (NSE:RYMD) James downgraded Synovus Financial to Market Perform after the merger announcement, citing recent stock performance. However, Synovus Financial’s stock rating was later upgraded by Raymond James to Outperform after the company posted stronger-than-expected second-quarter 2025 results. Citi also raised its price target for Synovus Financial to $65, highlighting strong quarterly loan growth as a significant factor. These developments reflect active strategic maneuvers and varied analyst responses for both Pinnacle Financial Partners and Synovus Financial.
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