- Baird analysts upgraded Zions Bancorp to Outperform
- US regional banks gain in pre-market after the sell-off triggered by rising loans at-risk
- Baird analysts upgraded Zions Bancorp to Outperform
- US regional banks gain in pre-market after the sell-off triggered by rising loans at-risk
Yesterday, $50M loan loss triggered the 13% sell-off for Zions Bancorp shares, pressuring broader US banking sector. Investors are worried that a numerous US bankruptcies such as Tricolor and First Brands will pressure financial conditions for banks exposed to such risks. However, Baird analysts said that the Zions' loss was not systemic but rather a one-off issue. Also, Raymond James analysts agreed the risk for the bank seems contained. However loans at-risk level are rising. Zions will report Q3 earnings on Monday. The stock is up almost 5% in premarket today. Baird upgraded the Zions from Outperform to Outperform and $65 target, which is almost 40% higher than current share price.
Source: xStation5
IBM and Groq join forces to revolutionize AI processing
US Defense Industry Preview - Has it reached its peak?
Waymo: Race against the regulators
Will Alibaba’s Aegaeon Revolutionize GPU Usage?
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
