UPDATE: J.P. Morgan Raises Price Target On KeyCorp on Improved Economic Trends

In a research report published Tuesday, J.P. Morgan analyst Steven Alexopoulos raised the price target on

from $10.50 to $11 and maintained a Rating of Overweight on the company. In the report, J.P. Morgan noted, "...the modestly better economic trends as well as the improved outlook for rates implied by the steepening curve...justify an improved valuation..." KeyCorp closed Monday at $10.85 and is currently trading up 0.46 percent since market open hours.