UPDATE - UBS Initiates Coverage on Zions Bancorp (ZION) with a Neutral; A Lot of Torque in This Engine
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Price: $68.14 +0.37%
Rating Summary:
13 Buy, 26 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
13 Buy, 26 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - UBS initiates coverage on Zions Bancorp (Nasdaq: ZION) with a Neutral rating. PT $18.50.
UBS analyst says, "Commendable progress, but some tail risk remains: We estimate that the company is ~58% though cycle losses. However, tail risk remains given the high level of CRE exposure, credits within at-risk geographies, and a still elevated level of problem assets to resolve. Nonetheless, we expect continued progress and reserves will mitigate the extent of our concerns."
"Could take time to fire on all cylinders: Although we think the more complete resolution of credit issues could weigh on the outlook for medium-term growth, we see several positive drivers for longer-term earnings growth. These include: credit leverage, attractive demographics, deployment of excess liquidity, optimization of
the capital structure, and asset sensitivity."
To See Ratings Summary & History on ZION, Click Here
UBS analyst says, "Commendable progress, but some tail risk remains: We estimate that the company is ~58% though cycle losses. However, tail risk remains given the high level of CRE exposure, credits within at-risk geographies, and a still elevated level of problem assets to resolve. Nonetheless, we expect continued progress and reserves will mitigate the extent of our concerns."
"Could take time to fire on all cylinders: Although we think the more complete resolution of credit issues could weigh on the outlook for medium-term growth, we see several positive drivers for longer-term earnings growth. These include: credit leverage, attractive demographics, deployment of excess liquidity, optimization of
the capital structure, and asset sensitivity."
To See Ratings Summary & History on ZION, Click Here
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