Morgan Stanley raised the firm’s price target on Zions Bancorp (ZION) to $63 from $60 and keeps an Equal Weight rating on the shares. Q2 operating EPS of $1.58 beat the firm’s and consensus estimates, driven by higher revenues and lower provision, the analyst noted. Following the report, the firm is increasing its 2025 and 2026 EPS estimates by 7% and 6%, respectively, arguing that Zions’ higher asset sensitivity than peers is a near-term positive, but will be a headwind when the Fed cuts rates.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZION:
- Zions Bancorp price target raised to $66 from $57 at DA Davidson
- Zions Bancorp price target raised to $65 from $60 at Baird
- Zions Bancorp price target raised to $63 from $58 at Keefe Bruyette
- Zions Bancorp price target raised to $58 from $47 at Wells Fargo
- Zions Bancorporation: Balancing Positive Trends with Future Challenges – Hold Recommendation