Jefferies upgrades Zions Bancorp to "buy", raises PT on improved outlook

Zions Bancorporation, National Association

19/11/2025 11:57

** Jefferies upgrades Zions Bancorporation ZION.O rating to "buy" from "hold"; raises PT to $60 from $55, an upside of 21.6% to stock's last close

** Shares of the regional lender up about 1.9% at $50.26 in premarket trading

**  Brokerage believes the recent stock pullback is excessive and the outlook for fundamentals like loan growth, deposit growth, NII, fee income is improving for ZION

** Jefferies notes the $50 million fraud-related charge-off in Q3 was an isolated event and small relative to Zions’ total loan book

** "We expect momentum on core fundamentals, particularly in loans & deposits where growth has previously lagged, could steer the narrative back on track and narrow the discount," Jefferies says

** Eight of 25 brokerages rate the stock "buy", 16 "hold" and one "sell"; median PT $61 — LSEG

** As of last close, stock down ~9% YTD

 (Reporting by Anuj T in Bengaluru)

 ((anuj.t@thomsonreuters.com))