Market Overview

UPDATE: Morgan Stanley Upgrades Synovus Financial As Prior Rating Has Played Out

Share:

In a report published Thursday, Morgan Stanley analyst Ken A. Zerbe upgraded the rating on Synovus Financial (NYSE: SNV) from Underweight to Equal-Weight, and raised the price target from $3.20 to $3.30.

In the report, Morgan Stanley noted, “Our prior Underweight rating on SNV has played out. With the stock down 11% year-to-date, combined with decent 1Q14 results, we expect the shares to perform in line with peers from here. Our new $3.30 PT implies 3% upside (versus 4% for peers) for a much more balanced risk-reward.”

Synovus Financial closed on Wednesday at $3.21.

Latest Ratings for SNV

DateFirmActionFromTo
Aug 2019Initiates Coverage OnBuy
Jul 2019Initiates Coverage OnOutperform
Jun 2019MaintainsStrong Buy

View More Analyst Ratings for SNV
View the Latest Analyst Ratings

Posted-In: Ken A. Zerbe Morgan StanleyAnalyst Color Upgrades Analyst Ratings

 

Related Articles (SNV)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
WUBABOCOM InternationalDowngrades
DLTROTR GlobalUpgrades
ARCCCompass PointDowngrades
GTYHCitiInitiates Coverage On7.0
NKEGuggenheimMaintains100.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: Morgan Stanley Reiterates on Tesla Motors on Increasing Investor Concerns

Morgan Stanley Sees Balanced Risk/Reward for Equinix