Synovus upgraded to Buy at Janney with $38 fair value estimate

As previously reported, Janney Montgomery Scott analyst Christopher Marinac upgraded Synovus to Buy from Neutral with a $38 fair value estimate. Credit quality remains stable, exposures in commercial real estate and commercial & industrial remain "manageable," and the firm are "fans" of deposit growth and core account openings of new commercial accounts in the past quarter, adding that it feels "momentum here can continue."