UPDATE: Stifel Nicolaus Downgrades KeyCorp to Sell on Limited EPS Upside
Stifel Nicolaus downgraded KeyCorp (NYSE: KEY) from Hold to Sell.
Stifel Nicolaus said, "Our analysis indicates the company has no material EPS upside in an environment where both the net interest margin and the loan loss provision expense normalize. The potential increase in net interest income would be significantly offset by an increase in loan loss provision expense. Despite this, the shares trade at the second highest P/E multiple within our large cap bank universe while its projected ROA remains lackluster."
KeyCorp closed at $9.57 on Friday.
Latest Ratings for KEY
|Apr 2015||Evercore Partners||Initiates Coverage on||Hold|
|Mar 2015||UBS||Initiates Coverage on||Neutral|
|Feb 2015||Deutsche Bank||Maintains||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.