Zions Bancorp price target lowered to $61 from $62 at RBC Capital

RBC Capital lowered the firm’s price target on Zions Bancorp (ZION) to $61 from $62 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q4 earnings for regional banks. Given the changes to the rate environment and economic outlook in recent months, combined with increased optimism surrounding the incoming U.S. administration, the focus will likely be more on 2025 outlooks, the analyst tells investors in a research note. RBC adds that while it is expecting “solid” Q4 results for the sector, the near-to-medium term path of deposit betas, net interest margins, and “understanding what is possible on growth” are all “important outlook topics”, stating that the primary adjustments to its models generally reflect slight fine-tuning of margin assumptions and some lower near term loan growth expectations.