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KeyCorp Q1 Results Benefit From Lower Credit Costs And Core Expenses

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Analysts at Keefe Bruyette maintain their "market perform" rating on KeyCorp (NYSE: KEY). The target price for KEY is set to $8.50.

According to Keefe Bruyette, KEY has posted its Q1 operating losses better than the estimates. “Lower credit costs and core expenses were the main variances, and a reserve release contributed $0.08/share to the bottom line. Credit trends improved, with NPLs down 2% q/q,” the analysts say.

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