ZION - Morgan Stanley Thinks Banks With Low Loan-To-Deposit Ratios & Less Reliance On Customer Deposits Have Chance Of Winning: Here's Why | Benzinga
Morgan Stanley analyst Manan Gosalia revised the rating for the midcap banks Valley National Bancorp (NASDAQ: VLY), Zions Bancorporation N.A. (NASDAQ: ZION), Commerce Bancshares Inc (NASDAQ: CBSH).
The analyst lowered the rating for VLY and ZION to Underweight from Equal-Weight with a raised price target of $8.5 (from $8) and $32 (from $27), respectively.
On the other hand, Gosalia upped the rating for CBSH to Equal-Weight from Underweight at an increased price target to $49 from $48.
The analyst is bearish on the expected higher for longer rate environment, weakening loan growth pressure NII, rising loan losses, and elevated pressurized expense in ...