Zions Bancorporation (ZION) NewsBite - ZION Gets Hit With A Downgrade From Morgan Keegan

Posted: Wednesday, November 11, 2009 12:59 PM EDT
By: Market Intelligence Center Staff





Zions Bancorporation (ZION) was downgraded today by analysts at Morgan Keegan and the stock is now at $13.29, up $0.03 (0.23%) on volume of 6,486,124 shares traded. Morgan Keegan downgraded the stock today from Outperform to Market Perform. Over the last 52 weeks the stock has ranged from a low of $5.90 in March to a high of $39.63 last November. Zions Bancorporation stock has been showing support around $12.51 and resistance in the $14.71 range. Technical indicators for the stock are neutral and S&P gives ZION a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ZION the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]



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