Wells Fargo lowered the firm’s price target on Zions Bancorp to $50 from $55 to reflect its lower net interest income outlook that is now near the low end of management’s guided range for 2023 as the firm expects accelerating deposit funding costs to impact Zions like its peers that provided mid-quarter updates. The firm keeps an Equal Weight rating on the shares.
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Published first on TheFly
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Read More on ZION:
- Zions Bancorp management to meet virtually with Compass Point
- Zions Bancorp price target raised to $59 from $57 at Truist
- Zions Bancorp board authorizes Q1 share repurchases of up to $50M
- Zions Bancorp downgraded to Underweight from Neutral at JPMorgan
- Zions Bancorp reports Q4 net interest income up 30% y/y at $720M