UPDATE: Baird Upgrades Zions Bancorp (ZION) to Neutral
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
(Updated - October 23, 2018 9:05 AM EDT)
Updated to add analyst comment)
Baird analyst David George upgraded Zions Bancorp (NASDAQ: ZION) from Underperform to Neutral with a price target of $49.00.
The analyst comments "Relative to lower expectations, Q3 results were solid (core NIM +6 bps, loans +1.3% Q/Q), and the 12-month outlook was largely unchanged (still targeting high-single-digit PPNR growth Y/Y though loan growth may slow). The pace of excess capital return should remain elevated and provide downside support for shares. ZION now trades at ~10x 2020E EPS vs. ~14x forward earnings to start the year and ~12x in September. The risk/reward is more balanced at current prices."
Shares of Zions Bancorp closed at $45.35 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Baird Upgrades Starbucks (SBUX) to 'Outperform' on Improved Fundamental Outlook
- Bapcor Ltd. (BAP:AU) PT Raised to AUD9.25 at Goldman Sachs
- UPDATE: Intel (INTC) PT Lowered to $70 but Morgan Stanley Sees the Turnaround Progressing with an EPS Hard Deck of $4.50
Create E-mail Alert Related CategoriesAnalyst Comments, Upgrades
Related EntitiesRobert W Baird, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!