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ZION

Zions Bancorp

$31.82

0.42 (1.34%)

06:48
10/06/16
10/06
06:48
10/06/16
06:48

Zions Bancorp downgraded to Market Perform from Strong Buy at Raymond James

Raymond James analyst David Long downgraded Zions Bancorp to Market Perform from Strong Buy due to strong share performance and said near-term catalysts are played out.

  • 24

    Oct

ZION Zions Bancorp
$31.82

0.42 (1.34%)

06/29/16
06/29/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on the today's top five analyst downgrades with this list compiled by The Fly: 1. HeartWare (HTWR) downgraded to Equal Weight from Overweight at Barclays by analyst Matthew Taylor, saying he does not expect a competing takeover bid to Medtronic's (MDT) offer. The analyst raised his price target for the shares to $58 from $35. Similarly, shares were downgraded to Market Perform from Outperform at Wells Fargo, with analyst Larry Biegelsen saying he sees a low likelihood that a higher bidder will emerge. The analyst believes Medtronic paid a fair valuation for HeartWare. HeartWare was also downgraded to Neutral from Buy at BTIG. 2. Esperion (ESPR) downgraded to Neutral from Overweight at JPMorgan by analyst Jessica Fye, who slashed her price target for shares to $15 from $50. The analyst says last night's regulatory update is a net negative. Disappointingly, the FDA did not sign off on the use of LDL-C lowering as an acceptable regulatory endpoint for approval of bempedoic acid for the treatment of statin-intolerant patients, Fye tells investors in a research note. The analyst still believes bempedoic acid is an effective LDL-C lowering agent, but now sees a drawn out path to approval in the U.S. Esperion was also downgraded to Underperform at Neutral at Credit Suisse by analyst Vamil Divan, who says the update on the development plans for bempedoic acid leaves him increasingly concerned about the products outlook in the U.S. market. The analyst was surprised that the FDA may not be willing to allow LDL-C as a surrogate endpoint for initial approval but believes there will be significant pressure, and limited upside, on shares until that certainty is obtained, and that process may take years to play out. Esperion was also downgraded to Sector Perform from Outperform at RBC Capital. 3. Comerica (CMA) downgraded to Underperform from Neutral at BofA/Merrill, which reduced its price target to $36 from $45. The firm's analyst lowered estimates 8% below consensus for 2016 and 17% below consensus in 2017 due to low rates that will pressure spread revenue growth, slower U.S. economic growth, and continued reserve build. The firm also downgraded Regions Financial (RF), Synovus (SNV), Texas Capital (TCBI) and Franklin Financial Network (FSB) to Neutral from Buy, as well as Zions Bancorp (ZION) to Underperform from Neutral. 4. comScore (SCOR) downgraded to Neutral from Positive at Susquehanna, citing uncertainty surrounding its accounting issues. The firm continues to like the long-term fundamental story, but with an unclear timeline for its resolution, they are moving to the sidelines. Susquehanna lowered its price target to $18 from $30 on comScore shares. 5. Harman (HAR) downgraded to Sector Perform from Outperform at RBC Capital partly based on the low number of new car launches next year, the firm's forecast for reduced production by the company's European customers, and the firm's reduction in its U.S. auto production versus its previous forecast. Additionally, the firm expects GM (GM) to delay a number of its connected car launches that had been slated for fiscal 2017 until fiscal 2018. The firm lowered its price target to $73 from $85. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/07/16
FIGP
07/07/16
INITIATION
Target $29
FIGP
Outperform
Zions Bancorp initiated with an Outperform at Fig Partners
Fig Partners analyst Timothy Coffey started Zions Bancorp with an Outperform rating and $29 price target.
07/07/16
PIPR
07/07/16
UPGRADE
Target $29
PIPR
Overweight
Zions Bancorp upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Kevin Barker upgraded Zions Bancorp to Overweight with an unchanged price target of $29. The analyst cites valuation as he believes low interest rates are priced in at current share levels. Fig Partners this morning initiated Zions with an Outperform rating and $29 price target.
09/20/16
FBCO
09/20/16
NO CHANGE
Target $36
FBCO
Outperform
Zions Bancorp price target to $36 from $32 at Credit Suisse
Credit Suisse analyst Jill Shea raised Zions Bancorp price target to $36 from $32 and raised estimates above the Street to reflect a lower expense run-rate and a lower provision expense. Shea rates Zions an Outperform.

TODAY'S FREE FLY STORIES

GNCA

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LUV

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SAVE

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ALGT

Allegiant Travel

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AAL

American Airlines

$47.70

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UAL

United Continental

$59.44

0.64 (1.09%)

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LUV

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AMPH

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ACN

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$138.16

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SPR

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, BA

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CATM

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IVTY

Invuity

$7.80

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MOH

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GPC

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AA

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FCX

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TECK

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CLF

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FTK

Flotek

$5.40

0.04 (0.75%)

17:49
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