Market Overview

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

Share:
Related KEY
10 Reasons The Stock Market Rebounded Two Mornings After Black Monday
Bernstein Believes Recent Weakness In Keycorp, Fifth Third, Citizens, Zions Has Created Attractive Entry Point
Financials join energy as hardest hit sector today (Seeking Alpha)

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
Aug 2015BernsteinUpgradesMarket PerformOutperform
Aug 2015Sterne Agee CRTInitiates Coverage onBuy
Aug 2015Keefe Bruyette & WoodsUpgradesUnderperformMarket Perform

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)

Get Benzinga's Newsletters