Wedbush Starts KeyCorp (KEY) at Outperform

October 7, 2016 6:55 AM EDT
Get Alerts KEY Hot Sheet
Price: $13.04 --0%

Rating Summary:
    26 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 2 | Down: 4 | New: 8
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Wedbush initiates coverage on KeyCorp (NYSE: KEY) with a Outperform rating and a price target of $15.00.

Analyst Peter Winter commented, "KEY trades at the lowest P/E in our bank group at 10.0x vs. our regional bank median at 12.3x based on 2017 EPS estimates. The discount mainly reflects the integration risk of its acquisition First Niagara (FNFG), which closed on July 29. If Key can successfully integrate FNFG, it is expected to lead to above-average EPS growth and increase its profitability metrics (ROTCE and efficiency ratio) to slightly above peer averages."

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 $12.73 yesterday.

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