Zions Bancorp price target raised to $42 from $34 at DA Davidson

DA Davidson analyst Peter Winter raised the firm’s price target on Zions Bancorp to $42 from $34 and keeps a Buy rating on the shares. The company’s Q2 results were “weak” led by net interest income pressure, but its rolling 12-month outlook was slightly better than expected, the analyst tells investors in a research note. Zions is a flight quality to name with a long track record of best in class credit metrics, with average net charge-offs of only 7bps over the last 6-quarters, the firm added.