Jefferies Starts KeyCorp (KEY) at Hold

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Jefferies initiates coverage on KeyCorp (NYSE: KEY) with a Hold rating and a target price of $9.

The firm said that, "KEY's attributes include a sharp improvement in credit quality, steadying revenues, and strongcapital. While its 1x tangible book multiple is attractive, it reflects a below-average ROE profile and the stock also feels a bit crowded."

For more ratings news on KeyCorp click here and for the rating history of KeyCorp click here.

Shares of KeyCorp closed at $8.42 yesterday, with a 52 week range of $5.31-$9.84.

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