Wells Fargo analyst Mike Mayo raised the firm’s price target on Zions Bancorp (ZION) to $54 from $50 and keeps an Equal Weight rating on the shares. The firm notes Zions beat by 16% due to capital markets and net interest income. While NII was better than expected, its rate sensitivity profile remains the same and high relative to peer, Wells adds. Guide language is unchanged but off a higher base, says the firm.
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