Synovus price target raised to $64 from $56 at Piper Sandler

Piper Sandler raised the firm’s price target on Synovus (SNV) to $64 from $56 and keeps an Overweight rating on the shares. The firm notes the new 2025 guidance implied better loan growth trends, aided by the RM expansion plan that Synovus had previously disclosed and gave some more details around in the deck. Piper’s updated model ends up in the same place, but it sees potential upside to net interest income if the net interest margin moves higher on the better loan growth and the potential for a stabilizing rate environment.