Synovus price target raised to $62 from $59 at Citi

Citi analyst Benjamin Gerlinger raised the firm’s price target on Synovus (SNV) to $62 from $59 and keeps a Buy rating on the shares following the Q4 report. While Synovus “pitches the growth story though hires,” which will show up more in 2026 versus 2025, Citi finds the underlying balance sheet management “to be somewhat dismissed,” the analyst tells investors in a research note. The firm believes the bank’s funding mix trend and re-composition of lower cost deposits, coupled with positive fixed asset repricing, “to be a rather compelling story.”