Zions Bancorp price target raised to $57 from $55 at RBC Capital

RBC Capital raised the firm’s price target on Zions Bancorp (ZION) to $57 from $55 and keeps a Sector Perform rating on the shares after its Q3 earnings beat. The company’s core trends were strong, with favorable revenue trends and controlled expense management seen as key highlights, the analyst tells investors in a research note. RBC adds that while it continues to see some negative risk migration in multifamily / commercial classifieds and non-performing assets, the bank’s credit costs remain low and management continues to expect loss content to remain controlled over time.