Zions Bancorp price target raised to $37 from $32 at RBC Capital

RBC Capital analyst Jon Arfstrom raised the firm’s price target on Zions Bancorp to $37 from $32 and keeps a Sector Perform rating on the shares. Zion‘s Q2 results reflected steeper margin pressure, which was expected this quarter, with relatively stable trends otherwise, the analyst tells investors in a research note. The updated fundamental outlook is also stable, with spread revenues likely to show more stability going forward, RBC Capital says.