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Fly News Breaks for October 22, 2019
ZION
Oct 22, 2019 | 08:28 EDT
RBC Capital analyst Jon Arfstrom raised his price target on Zions Bancorp to $54 and kept his Outperform rating after its "solid" Q3 results highlighted by its "strong" fee and expense trends that offset "manageable" net interest margin pressure. The analyst further notes the management's plans to accelerate its expense reduction plans, which he sees as favorable for the bank's 2020 outlook. Given its "strong" franchise value and citing its risk-reward profile at current valuation, Arfstrom maintains that Zions Bancorp stock "remains attractive".
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