FRC - Synovus Comerica upgraded after JPMorgan refines 2022 outlook for regional banks

JPMorgan analyst Steven Alexopoulos upgrades Synovus Financial (SNV -1.3%) to Overweight and Comerica (CMA -0.4%) to Neutral as he reassesses regional banks, advising investors to become more selective in their exposure. “While the backdrop in 2022 should remain directionally favorable for bank stocks, we see the search for alpha leading directly to the banks that have enough revenue horsepower to power through an uncertain environment and deliver strong risk-adjusted returns,” Alexopoulos writes in a note to clients. He suggests that investors concentrate on banks “best positioned to drive market share gains via delivering a differentiated customer experience.” The analyst is still bullish on  Metropolitan Bank Holding (MCB +0.1%) and  Pinnacle Financial Partners (PNFP -0.0%) but removes them from the Analyst Focus List. Other top picks for 2022 are First Republic Bank (NYSE:FRC), SVB Financial Group (NASDAQ:SIVB), Signature Bank (NASDAQ:SBNY), and Live Oak Bancshares (NASDAQ:LOB). SA contributor ALG Research explains why

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Synovus, Comerica upgraded after JPMorgan refines 2022 outlook for regional banks