UPDATE: Goldman Sachs Downgrades Synovus Financial as Market Appreciates an Acquisition as Unlikely

In a report published on Sunday, Goldman Sachs analyst Ryan M. Nash downgraded Synovus Financial (NYSE: SNV ) from Neutral to Sell and maintained a price target of $2.50. In the report, Goldman Sachs noted that, "We see SNV underperforming over the next 12 months as the market appears to be