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Upgrade Alert for Zions Bancorporation (ZION)

By Nick Russo

Zions Bancorporation (NASDAQ:ZION) was upgraded from Market Perform to Strong Buy at Raymond James today. The stock closed yesterday at $26.02 on volume of 2.9 million shares, below average daily volume of 3.0 million.

In the past 52 weeks, shares of Zions Bancorporation have traded between a low of $13.18 and a high of $33.33 and closed yesterday at $26.02, which is 97% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has slid 0.3%.

Zions Bancorporation (NASDAQ:ZION) has potential upside of 27.3% based on a current price of $26.02 and analysts' consensus price target of $33.12. Zions Bancorporation shares should encounter resistance at the 200-day moving average (MA) of $26.74 and support at the 50-day MA of $24.91.

Zions Bancorporation is a bank holding company that operates full-service banking offices in western United States. The Company also offers an array of investment, mortgage, insurance, and electronic commerce services. In addition, Zions provides financing solutions for small businesses across the United States.

SmarTrend is monitoring the recent change of momentum in Zions Bancorporation. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Zions Bancorporation in search of a potential trend change.

Keywords: analyst upgrades/downgrades zions bancorporation

Ticker(s): ZION