UPDATE - UBS Initiates Coverage on KeyCorp (KEY) with a Buy; Holding the Keys to Success
Tweet
Share
E-mailGet Alerts KEY Hot Sheet
Price: $21.87 +0.09%
Rating Summary:
22 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
22 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
UPDATE - UBS initiates coverage on KeyCorp (NYSE: KEY) with a Buy rating. PT $10.
UBS analyst said, " Capital deployment is set to ramp: KEY is one of the better capitalized banks within our mid-cap coverage with significant excess capital relative to Basel III even with a SIFI surcharge and excluding trust preferreds. Further, regulatory risks appear manageable for KEY. As such, we expect deployment to accelerate."
"Shifting From defense to offense: We estimate KEY is >69% through ultimate loss recognition for this cycle. This enables the new CEO to increasingly direct attention towards enhancing and unlocking value embedded within the franchise. Second, expense management has been prudent, mitigating margin headwinds. Third, fee businesses offer a source of upside. This process could take time but KEY is moving in the right direction."
UBS analyst said, " Capital deployment is set to ramp: KEY is one of the better capitalized banks within our mid-cap coverage with significant excess capital relative to Basel III even with a SIFI surcharge and excluding trust preferreds. Further, regulatory risks appear manageable for KEY. As such, we expect deployment to accelerate."
"Shifting From defense to offense: We estimate KEY is >69% through ultimate loss recognition for this cycle. This enables the new CEO to increasingly direct attention towards enhancing and unlocking value embedded within the franchise. Second, expense management has been prudent, mitigating margin headwinds. Third, fee businesses offer a source of upside. This process could take time but KEY is moving in the right direction."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- DA Davidson Starts Everus (ECG) at Buy
- TD Cowen Assumes Cullinan Oncology Inc. (CGEM) at Buy
- TD Cowen Assumes Iovanace Biotherapeutics (IOVA) at Buy
Create E-mail Alert Related Categories
New CoverageRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
