Upgrade lifts Pinnacle above $1B market cap milestone

In a bit of a delayed reaction to Pinnacle Financial Partners' second-quarter profit report, Raymond James analyst Michael Rose on Thursday morning upgraded shares of the bank holding company to 'outperform' from 'market perform.' Rose also lifted his target for Pinnacle (Ticker: PNFP) to $30, which led investors to bid the stock up above $29 for a bit this morning before retreating somewhat.

Still, Pinnacle is on course to close trading with a market cap of more than $1 billion for the first time ever. That brings to 20 the number of Middle Tennessee companies that can brag about that.