Zions Bancorp downgraded to Neutral from Outperform at Baird

Baird downgraded Zions Bancorp (ZION) to Neutral from Outperform with an unchanged price target of $65. The firm sees a balanced risk/reward at current share levels. Zions shares will likely underperform peers in a steepening yield curve environment, the analyst tells investors in a research note. Baird says Zions remains one of the most asset-sensitive names in its coverage.