Synovus Financial rises after Citigroup initiates coverage with 'buy'

Synovus Financial

10/10/2024 18:50

** Regional bank Synovus Financial's  SNV.N  shares rise ~1%
to $44.01
    ** Citigroup initiates coverage on SNV with "buy" rating and
PT of $53, a ~21.6% upside to stock's last close
    ** Brokerage expects rate cuts to improve bank's loan growth
and help boost its income    
    ** 10 of 16 brokerages rate the stock "buy" or higher, 6
"hold"; their median PT is $49.50 — data compiled by LSEG
    ** Including session's moves, stock up ~17% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))