Zions Bancorp price target raised to $47 from $46 at RBC Capital

RBC Capital analyst Jon Arfstrom raised the firm’s price target on Zions Bancorp to $47 from $46 and keeps a Sector Perform rating on the shares after its Q1 results. The company’s core trends were solid with revenues exceeding expectations on a stronger margin and net interest income that inflected higher this quarter, the analyst tells investors in a research note. Zions Bancorp’s core fees were also higher, while core expenses were well controlled, the firm stated, adding that while its credit metrics were somewhat mixed, they were still “very manageable”.