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D.A. Davidson Upgrades Zion from Neutral to Buy; PT Maintained $34

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Benzinga's Top Upgrades
FBR Capital Upgrades Zions Bancorporation To Outperform

In a research note by D.A. Davidson Co. published Wednesday, Zion (NASDAQ: ZION) was upgraded from Neutral to Buy and the price target of $34 was left unchanged.

ZION shares are down 7.3 percent since D.A. Davidson's July 23 downgrade and analyst Gary P. Tenner said, "we think ZION shares are increasingly attractive below $29".

D.A. Davidson's $34 price target represents 20 percent upside from current levels and ZION is likely to outperform given the valuation discount, less earnings noise, and low expectations for 2014 revenue, according to Tenner.

Zion Bancorporation shares are currently trading down around 0.25 percent to $28.50.

Latest Ratings for ZION

DateFirmActionFromTo
Apr 2015FBR CapitalUpgradesMarket PerformOutperform
Apr 2015BarclaysMaintainsEqual-weight
Apr 2015MacquarieMaintainsOutperform

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Posted-In: Analyst Color News Upgrades Price Target Analyst Ratings

 

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