Morgan Stanley Downgrades Zions Bancorp to Underweight, Raises Price Target to $32
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Ken Zerbe has downgraded Zions Bancorp (NASDAQ:ZION) from Equal-Weight to Underweight, while raising the price target from $27 to $32.
September 27, 2023 | 9:53 am
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Zions Bancorp has been downgraded to Underweight from Equal-Weight by Morgan Stanley, which could negatively impact the stock. However, the price target has been raised from $27 to $32.
The downgrade to Underweight suggests that Morgan Stanley expects Zions Bancorp's stock to underperform compared to other stocks. This could lead to selling pressure on the stock, potentially driving the price down in the short term. However, the raised price target indicates an expectation of long-term growth, which could mitigate some of the negative impact.
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IMPORTANCE 80
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