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Fly News Breaks for August 6, 2019
SNV
Aug 6, 2019 | 09:36 EDT
As previously reported, Stephens analyst Tyler Stafford upgraded Synovus to Overweight from Equal Weight, stating that his "exhaustive review" of the loan portfolio of FCB Financial over the past 60 days leads him to conclude that the underlying credit concerns are unwarranted relative to the stock's discounted valuation. Synovus should trade in-line with peers, "at a minimum," contends Stafford, who raised his price target on the stock to $43 from $39.
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