Fly News Breaks for January 22, 2020
Jan 22, 2020 | 06:25 EDT
BofA analyst Erika Najarian downgraded Zions Bancorp to Neutral from Buy with a $52 price target after its Q4 results. The analyst notes that the company's 2020 outlook was highlighted by "mostly negative operating leverage" vs. the slightly positive outlook for its regional peers. Najarian adds that while she remains positive on the bank's "main street" growth profile, the 4c per share miss in its Q4 expenses raises the base for 2020 and the management's forecast of "stable to slightly decreasing expenses".
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