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Fly News Breaks for November 12, 2018
CMA, FCB, SNV
Nov 12, 2018 | 08:10 EDT
As previously reported, Morgan Stanley analyst Ken Zerbe upgraded Synovus (SNV) to Overweight from Equal Weight following the recent selloff in midcap banks, stating that he believes the market is overlooking its above-peer profitability after the acquisition of FCB Financial (FCB)closes. Zerbe also sees Synovus making "aggressive" share repurchases, he tells investors. He maintains a $50 price target on Synovus shares. The analyst also upgraded Comerica (CMA) to Overweight following the recent selloff in midcap banks.
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