Synovus Financial Corp (NYSE:SNV) not the cynosure of all analyst eyes
In a research report that was issued on Friday, SunTrust’s equities researchers have raised their price objective on Synovus Financial Corp (NYSE:SNV) shares, from $2.80-$3.30. Currently, the firm has a “neutral” rating on SNV stock. The company shares rose by 4.85% in Friday’s trading session. The opening price of the shares was $3.28 which rose to an intraday price of $3.30 and closed at $3.24. SNV has a 1 year low of $1.81, its one year high is $3.15 and its market cap is $2.570B. Currently, the 50-day moving average of the stock is $2.84.
SNV had last issued its earnings data on 18 July. For the quarter, it had reported EPS of $0.03 which had met the average analyst estimate of $0.03. The company had posted EPS of $0.03 in the same quarter in 2012. For the current financial year, analysts are projecting that the company will post an EPS of $0.11. Several other analysts have also very recently upped their ratings on SNV. Compass Point analysts upgraded the company’s shares from a “neutral” to a “buy” rating. The price target on the stock is $3.50 which previously stood at $2.70.
Trending towards a “buy” rating
Zacks analysts also upgraded SNV shares from an “underperform” to a “neutral” rating. Now, the price target of $3.00 has been placed on the stock. Goldman Sachs Group analysts thought differently and downgraded the Synovus stock from a “neutral” to a “sell” rating. Two different investment analysts have set a “sell” rating on the stock while seven have set a “hold” rating. Six think that it is a “buy”. The average rating on the stock is a “buy” and the consensus target price is $3.00.
The market sentiment around Synovus Financial Corp (NYSE:SNV) seems to have some variation but overall, it seems like the company is well on its way up the hill. With a little luck, it will be able to hold its own.