Keefe, Bruyette & Woods Upgrades Zions Bancorp (ZION) to Outperform; Near-Term Catalysts & Capital Optionality

Keefe, Bruyette & Woods upgraded Zions Bancorp (NASDAQ: ZION) to Outperform. PT $26.

KBW analyst says, "We recently met with ZION management, and while macro-economic headwinds may persist this year, we have upgraded ZION to Outperform as we believe the company has catalysts in the near term that can help it outperform in this challenging environment. We are raising our '11 EPS estimate $0.03, to $0.42, reducing our '12 EPS estimate by $0.08, to $1.70 (small capital raise), but raising '13 EPS estimates $0.05 to $2.55."

For more ratings news on Zions Bancorp click here and for the rating history of Zions Bancorp click here.

Shares of Zions Bancorp closed at $22.24 yesterday.

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