RBC Capital analyst Jon Arfstrom has revised the price target for Synovus Financial Corp. (SNV, Financial), bringing it down to $52 from a previous target of $64. Despite this adjustment, Arfstrom maintains an Outperform rating on the stock following its first-quarter results.
The recent performance report of Synovus showed robust net interest margin growth coupled with a reduced loan loss provision, both contributing positively to the company's financial standing. These elements highlight the success of Synovus's core strategic initiatives, which are instrumental in driving revenue growth.
Although the company's margins are currently susceptible to declines in interest rates, RBC Capital remains optimistic about Synovus's long-term outlook, anticipating favorable conditions that could benefit the firm over time. The analyst's note emphasizes the resilience and potential of Synovus's business strategy amid fluctuating market conditions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 15 analysts, the average target price for Synovus Financial Corp (SNV, Financial) is $55.27 with a high estimate of $64.00 and a low estimate of $46.00. The average target implies an upside of 35.56% from the current price of $40.77. More detailed estimate data can be found on the Synovus Financial Corp (SNV) Forecast page.
Based on the consensus recommendation from 17 brokerage firms, Synovus Financial Corp's (SNV, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Synovus Financial Corp (SNV, Financial) in one year is $45.97, suggesting a upside of 12.75% from the current price of $40.77. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Synovus Financial Corp (SNV) Summary page.
