Analysts: Canadian Banks Eye Synovus, Regions Purchase
Press release from the issuing company
Wednesday, September 29th, 2010
A report from Credit Suisse analysts lists Synovus Financial Corp., Regions Financial Corp. and several other regional banks as targets for purchase by Canadian banks.
The report said Toronto-Dominion Bank (NYSE: TD) and Bank of Montreal (NYSE: BMO) could upgrade its U.S. franchises and would most likely look at regional banks, listing Columbus, Ga.-based Synovus (NYSE: SNV), TCF Financial (NYSE: TCB) and Regions (NYSE: RF) as possible sellers because of their “lower relative valuation.”
