KeyCorp (KEY) Added to Jefferies Franchise Picks List
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Jefferies analyst Ken Usdin reiterated a Buy rating and $16 price target on KeyCorp (NYSE: KEY) and added the stock to the Franchise Picks.
Usdin commented, "KEY delivered in the first quarter with First Niagara in numbers. We have even more confidence in the trajectory for EPS and ROTCE and believe the valuation can begin to re-rate closer to peers. Our forward EPS ests. are $1.30 for '17 (up $0.03) and $1.45 for '18 (unchanged), with FNFG cost saves ahead of schedule, legacy KEY loan/deposit/fee growth intact, and credit quality benign. Adding KEY to the Jefferies Franchise Pick List."
Shares of KeyCorp closed at $13.87 yesterday.
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Related EntitiesJefferies & Co, Jefferies Franchise Pick List
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