Zions Bancorp price target lowered to $38 from $43 at Argus

Argus lowered the firm’s price target on Zions Bancorp to $38 from $43 but keeps a Buy rating on the shares. The firm’s reduced price target reflects the impact of higher deposit costs, but while regional banks are likely to face new regulations, Zions, with $87B in assets, may fall below a potential new threshold for Federal Reserve stress tests, the analyst tells investors in a research note. The firm adds that it is positive on the company’s focus on improving retail customer service, while also strengthening risk management and financial performance.