Zions Bancorp upgraded to Hold from Underperform at Jefferies

Jefferies analyst David Chiaverini upgraded Zions Bancorp (ZION) to Hold from Underperform with a price target of $60, up from $45. The firm has a more constructive outlook on the bank’s loans, net interest income and fees post the “strong” Q2 report. Zions’ improved trajectory is driving growth that is more in-line with peers and warrants a higher target multiple, the analyst tells investors in a research note.