Keefe, Bruyette & Woods Upgrade ZION to Outperform and Raise EPS Estimates

According to a recent report, Keefe, Bruyette & Woods has upgraded Zions Bancorporation ZION to Outperform and has raised the 2011 and 2013 EPS estimates from $0.39/$2.50 to $0.42/$2.55 but reduced the 2012 estimate from $1.78 and to $1.70. Keefe, Bruyette & Woods has maintained a $26.00 price target on the company. In the report, Keefe, Bruyette & Woods said, "We have upgraded ZION to Outperform as we believe the company has catalysts in the near term that can help it outperform in this challenging environment." ZION closed yesterday at $22.24.