Zions upgrade lifts regional banks, KRE XLF ETFs
Posted on Tuesday, May 26th, 2009 | In Exchange Traded Funds, Market Commentary
A 12% jump in shares of Utah’s Zions Bancorp sparked healthy gains in the broader financial sector on Tuesday, particularly among its fellow regional banks.
Morgan Stanley analyst Ken Zerbe upgraded Zions’ (ZION) shares to overweight from equal weight, saying, “We believe the valuation of Zions has become quite compelling for long-term investors. We believe Zions has an attractive franchise and solid growth opportunities, making it an attractive investment for long-term holders.”
Zions rose 12% to $14.20 Tuesday, topping all gainers among the financial stocks in the S&P 500. The gain helped lift the KBW Regional Banking ETF (KRE ) by 4.5%, and drove the Financial Select Sector SPDR (XLF) up about 2%.
Full Story: http://www.marketwatch.com/story/zions-upgrade-lifts-regional-banks
Last 5 posts by ETF Daily News
- The Most Expensive ETFs You’ll Never Need - June 8th, 2009
- What Warren Buffett Thinks About ETFs - June 8th, 2009
- National Inflation Association Report: Our Favorite ETFs and ETNs - June 8th, 2009
- How To Stay Afloat Through Your ETF’s Liquidation - June 8th, 2009
- Fink Aspires to No. 1 Fund Manager With Barclays Unit - June 8th, 2009
etf daily news, Exchange Traded Funds, Ken Zerbe;, Market Commentary, Morgan Stanley, S, USD, Utah, Zions Bancorp
 About ETF Daily News (http://www.etfdailynews.com)
ETF Daily News is intended to give you one source for the latest daily headlines you will need to read to make informed decisions about Exchange Traded Funds. You will find a wealth of information in our archives, and can search for keywords targeting articles relevant to you. |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.