Goldman Sachs analyst Ryan Nash upgrades $Zions Bancorp (ZION.US)$ to a buy rating, and adjusts the target price from $51 to $71.
According to TipRanks data, the analyst has a success rate of 65.9% and a total average return of 11.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Zions Bancorp (ZION.US)$'s main analysts recently are as follows:
Zions Bancorp is noted to be well prepared for the upcoming economic cycle due to the potential expansion in its net interest margin as it re-prices its deposits at lower rates and enjoys advantages from the re-pricing of fixed rate assets. The bank is also expected to benefit from an increase in commercial loan growth and the recent shifts in interest rates, attributed to its moderately asset-sensitive balance sheet. Analysts anticipate that Zions will achieve positive operating leverage by 2025, which is projected to enhance operating efficiency and improve returns.
The positive outlook on bank stocks for 2025 is based on expectations of faster earnings growth, spurred by boosting loan growth, increased activity in capital markets, a return to positive operating leverage, and share buybacks. Furthermore, price-to-earnings multiples are anticipated to expand, supported by a stable economic environment, decreased regulatory pressures, enhanced returns, and ongoing mergers and acquisitions. It is suggested that large-cap banks might continue to surpass market performance as their earnings growth accelerates.
Note:
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