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Fly News Breaks for October 24, 2018
FCB, SNV
Oct 24, 2018 | 07:12 EDT
RBC Capital analyst Jake Civiello lowered his price target on Synovus (SNV) to $48 after its Q3 results which he says also reflects the peer valuation multiple of 12-times forward earnings. The analyst also keeps his Outperform rating on Synovus based on its "consistent loan growth trajectory, careful credit consciousness, potential for profitability improvement through business model refinement and cost rationalization efforts", but warns about execution risk related to the FCB Financial (FCB) merger.
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