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Upgrade Alert for Zions Bancorporation (ZION)

By Amy Schwartz

Zions Bancorporation (NASDAQ:ZION) was upgraded from Neutral to Positive at Susquehanna today. The stock closed yesterday at $29.03 on volume of 3.7 million shares, above average daily volume of 3.0 million.

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.

Zions Bancorporation has overhead space with shares priced $29.03, or 12.4% below the average consensus analyst price target of $33.12. The stock should discover initial support at its 200-day moving average (MA) of $26.74 and subsequent support at its 50-day MA of $24.91.

In the past 52 weeks, Zions Bancorporation share prices have been bracketed by a low of $13.18 and a high of $33.33 and closed yesterday at $29.03, 120% 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%.

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