Equity Analysis /
United States of America

US : Pinnacle Financial Partners, Inc. - PNFP | 4Q20 Follow-Up: Increasing Estimates, PT to $80; Reit. Outperform

    Contributors
    Joseph Yanchunis
    Carl-Harry Doirin
    CGS-CIMB
    20 January 2021
    Published byCGS-CIMB

    We are reiterating our Outperform rating on PNFP shares and increasing our price target to $80 following 3Q20 results that exceeded our forecasts and consensus expectations. Results were fueled by stronger than forecast NIM/net interest income, greater than forecast balance sheet growth (+8% ann. e