Zions Bancorp price target raised to $78 from $75 at DA Davidson

DA Davidson raised the firm’s price target on Zions Bancorp (ZION) to $78 from $75 and keeps a Buy rating on the shares after its Q1 earnings beat. The company’s revenue investments are gaining traction and benefiting from a higher-for-longer rate environment, while its management is maintaining expense guidance of “moderately increasing”, the analyst tells investors in a research note. Zions’ capital ratios were stable, with an outlook for lower unrealized loss in AOCI and favorable proposed capital rules, the firm added.