Baird Lowers Zions Bancorp Rating to Neutral, Cites Fair Valuation After Market Recovery
Baird cut Zions Bancorp (NASDAQ: ZION) from Outperform to Neutral and set a $65 target, a level close to the stock's current trading price. The move reflects Baird's view that the bank's rally and restored investor confidence mean the shares now trade at a fair valuation, even as some metrics suggest potential undervaluation. The bank's deposit com…