Compass Point analyst David Rochester raised the firm’s price target on Zions Bancorp (ZION) to $54 from $49 and keeps a Neutral rating on the shares. The firm is raising its FY24 and FY25 core EPS forecasts to $4.94 and $5.24 from $4.65 and $5.00, respectively, citing higher core net interest income and margin projections, lower provision, lower expenses, and higher fee income compared to previous estimates. While the firm continues to see positive returns over the next year, driven by its outlook for stronger EPS trends in FY25 than FY24, it does not see as much total return potential in the shares compared to the firm’s Buy-rated names, keeping it on the sidelines.

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