SunTrust analyst Jennifer Demba raised her price target on Zions Bancorp to $56 and kept her Buy rating after its Q4 earnings beat driven by better than expected spread income, provisioning and tax rate. The analyst also expects the company to continue generating positive operating leverage and for its technological upgrades to position Zions "well for the future". Demba adds that Zions' lending activity is seen slightly to moderately increasing in 2019 given the relatively strong economic backdrop, while its net interest margins should remain "stable in a no rate hike environment".

UBS lowered the firm's price target on Zions Bancorp to $45 from $47 and keeps a Neutral rating on the shares. While "impressed" by Zions' ability to control deposit costs in a competitive backdrop, the firm thinks the liability sensitive positioning potentially puts the bank in "a precarious spot" in a higher-for-longer rate scenario and coming out of Q1 earnings the firm says it gets the sense that the net interest income trajectory from here is "well understood by the Street."