Goldman Sachs Resmes Zions Bancorp (ZION) at Sell, $Sees 13% Downside

Goldman Sachs resumes coverage on Zions Bancorp (NASDAQ: ZION) with a Sell rating and $18 price target.

The firm said with the stock essentially pricing in a 100 bp rise in rates, they see risk to the stock's premium multiple and estimates as rate hike expectations are right-sized.

"In the near term, we see further compression in store for ZION's above-average 3.9% NIM as new loans are originated at lower yields without the floors that have historically supported ZION's NIM," the analyst said.

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 $20.28 yesterday.

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