Market Overview

UPDATE: Sterne Agee Upgrades Zions Bancorporation to Neutral, Raises PT

Share:
Related ZION
Zions Is 'Just About To Turn The Corner'; FBR Upgrades To Outperform
Benzinga's Top Upgrades
Zions declares $0.08 dividend (Seeking Alpha)

In a report published Friday, Sterne Agee Group upgraded its rating on Zions Bancorporation (NASDAQ: ZION) from Underperform to Neutral, and raised its price target from $18.00 to $23.00.

Sterne Agee noted, “We are upgrading ZION to Neutral from Underperform. We have been cautious on ZION due to its costly capital structure, including its relatively prolonged exit from TARP, and its persistent volatility tied to core pre-provision profit. However, with repayment of the residual TARP imminent, our sense is that the optionality tied to the elevated cost of capital/financing will begin to improve and pre-provision profits should slowly begin to increase--even in a tough rate environment.”

Zions Bancorporation closed on Thursday at $20.80.

Latest Ratings for ZION

DateFirmActionFromTo
Jul 2016Piper JaffrayUpgradesNeutralOverweight
Jun 2016SusquehannaUpgradesNeutralPositive
May 2016Raymond JamesUpgradesMarket PerformStrong Buy

View More Analyst Ratings for ZION
View the Latest Analyst Ratings

Posted-In: Sterne Agee GroupAnalyst Color Upgrades Analyst Ratings

 

Related Articles (ZION)

View Comments and Join the Discussion!