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Investing.com - Truist Securities has reiterated its Hold rating and $59.00 price target on Zions Bancorp (NASDAQ:ZION) following comments from the bank’s CEO at an industry conference. The target aligns with the lower end of analyst projections, which range from $57 to $69, while InvestingPro analysis suggests the stock is currently undervalued.
Zions CEO Harris Simmons expressed optimism during the conference that the bank’s net interest margin (NIM) could reach approximately 3.5% by late 2026 or early 2027.
This projection exceeds current consensus expectations, which anticipate a NIM of around 3.3% over the same period.
The stock rose more than 1% following the CEO’s remarks, while the KBW Regional Banking Index (KRX) traded relatively flat.
Truist Securities noted that while investors appeared "directionally appreciative" of the outlook, they "seem to be remaining somewhat skeptical for the time being."
In other recent news, Zions Bancorp has been the subject of several analyst updates following its financial performance. RBC Capital raised its price target for Zions Bancorp to $62, maintaining a Sector Perform rating, highlighting a "solid quarter" supported by a provision recapture. Similarly, KBW increased its price target to $63, noting that the bank’s earnings exceeded expectations, driven by strong net interest income and fees. DA Davidson also raised its price target to $66 and maintained a Buy rating, acknowledging the improved economic conditions that have positively impacted Zions’ revenue outlook.
In addition, Jefferies upgraded Zions Bancorp from Underperform to Hold, with a new price target of $60, based on a more optimistic view of the bank’s growth in loans, net interest income, and fees. UBS reiterated its Neutral rating and maintained a $58 price target, citing a favorable revenue outlook compared to consensus estimates. These developments reflect a broadly positive sentiment among analysts regarding Zions Bancorp’s recent financial performance and future prospects.
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