Jefferies Upgrades KeyCorp (KEY) to Buy
Get Alerts KEY Hot Sheet
Rating Summary:
24 Buy, 12 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Jefferies upgraded KeyCorp (NYSE: KEY) from Hold to Buy with a price target of $15.50 (from $15.00), saying fundamentals are intact and valuation is low.
Analyst Ken Usdin commented, "We upgrade KEY to Buy on confidence in standalone KEY and pro forma EPS with FNFG, plus the lowest abs./rel. valuations in the group. EPS ests. are more stable than peers and have less downside risk ex-rates. P/E (9.3x on '17 EPS) and P/TBV (1.3x vs. 12.6% '17 ROTCE ) gaps are the widest to peers after the FNFN ann't., even with a better '17 EPS/ROTCE outlook and less IB fees (8% of revs.)."
For an analyst ratings summary and ratings history on KeyCorp click here. For more ratings news on KeyCorp click here.
Shares of KeyCorp closed at $13.08 yesterday.
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