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Fly News Breaks for October 23, 2018
ZION
Oct 23, 2018 | 07:31 EDT
SunTrust analyst Jennifer Demba lowered her price target on Zions Bancorp to $52 to reflect lower industry valuations but raised her FY18 EPS view to $4.08 from $3.89 and kept her Buy rating. The analyst cites Zions' Q3 earnings beat, stating that while loan growth may be slower in future periods amid heightened competition, the bank is controlling deposit costs while benefiting from the "negative loan loss provisioning, interest recoveries, as well as a true up of FDIC premiums". Demba also anticipates Zions' capital returns increasing further.
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