Market Overview

UPDATE: Citigroup Maintains Buy, Reduces PT to $8.50 on KeycCorp on Lower NIMs

Share:
Related KEY
Oppenheimer Offers Deep Technical Dive Into Financials, Says Goldman, JP Morgan, Morgan Stanley 'Top Buy Ideas'
KBW Slashes KeyCorp To Underperform, Cites Premium Valuation Unjustified
Is Bank of Ozarks (OZRK) a Rare Growth and Income Combo? - Analyst Blog (Zacks)

Citigroup reiterates its Buy rating on KeyCorp (NYSE: KEY) but reduces its price target from $10 to $8.50.

Citigroup says, "We reduce our 2012, 2013 and 2014 NIM estimates by 1 bps, 5 bps and 11 bps respectively to 3.17% in 2012, 3.13% in 2013 and 3.08% in 2014. This compares to 3.16% at the end of 1Q12. … In the hypothetical case that rates remain flat through 2014, we estimate that 2012, 2013 and 2014 estimates would be roughly unchanged vs our new estimates."

KEY closed at $7.15 on Thursday.

Latest Ratings for KEY

DateFirmActionFromTo
Jun 2015SunTrust Robinson HumphreyMaintainsNeutral
Jun 2015Stephens & Co.Initiates Coverage onEqual-weight
May 2015Keefe Bruyette & WoodsDowngradesMarket PerformUnderperform

View More Analyst Ratings for KEY
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

Related Articles (KEY)

Around the Web, We're Loving...

Get Benzinga's Newsletters