Market Overview

UPDATE: Jefferies Reiterates Hold Rating, Raises PT on KeyCorp

Share:
Related KEY
Earnings Scheduled For October 19, 2017
Will Lower Interest Income Hurt KeyCorp's Q3 Earnings?

In a report published Friday, Jefferies & Company reiterated its Hold rating on KeyCorp (NYSE: KEY), and slightly raised its price target from $8.50 to $9.00.

Jefferies noted, “The core pre-provision starting point was a little softer than expected, but the new $150mm-$200mm cost program more than offsets. As a result, we take our '12 and '13 ests. to $0.85 (from $0.75 and $0.78, respectively). Trading at 0.84x tangible book value, KEY has downside support from strong capital and credit quality, but it could be range-bound until it shows a better pre-provision progression. Target to $9 (from $8.50).”

KeyCorp closed on Thursday at $7.91.

Latest Ratings for KEY

DateFirmActionFromTo
Oct 2017CitigroupMaintainsNeutral
Oct 2017CitigroupMaintainsNeutral
Sep 2017BernsteinUpgradesMarket PerformOutperform

View More Analyst Ratings for KEY
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

Related Articles (KEY)

View Comments and Join the Discussion!
Loading...

Partner Center

Loading...