Keefe, Bruyette & Woods Downgrades Zions Bancorp (ZION) to Market Perform; CapPR Puts ZION in Holding Pattern

Keefe, Bruyette & Woods downgraded Zions Bancorp (NASDAQ: ZION) from Outperform to Market Perform, price target cut to $19.00.

KBW analyst says, "We are lowering our rating on ZION as we see some near term risks to our estimates and believe the shares will be range bound until after its CapPR capital plan is approved in March 2012. We are also lowering our target price to $19 to reflect a discount valuation compared to peers related to having capital trapped for 2012."

For an analyst ratings summary and ratings history on Zions Bancorp click here. For more ratings news on Zions Bancorp click here.

Shares of Zions Bancorp closed at $14.88 yesterday, with a 52 week range of $13.18-$25.60.

---

Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!

You May Also Be Interested In

• UPDATE: UBS Downgrades Wisconsin Energy (WEC) to Neutral; Taking Some Off The Table
• Goldman Sachs Boosts Numbers on PVH Corp (PVH) After Q1 Beat
• UBS Maintains a 'Buy' on Teva Pharma (TEVA); CEO Highlights From Conference Call

Create E-mail Alert Related Categories

Downgrades

Related Entities

Keefe, Bruyette & Woods

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?

Follow StreetInsider.com On Twitter