Compass Point Reiterates a 'Buy' on KeyCorp (KEY); Raising Estimates on Above Expectations for Q1
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Price: $23.29 -0.09%
Rating Summary:
22 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
Rating Summary:
22 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
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Compass Point reiterates a 'Buy' on KeyCorp (NYSE: KEY) price target of $8.75.
Analyst, Mike Turner, said, "KEY's 1Q12 results were above expecations on higher fee income as well as lower than expected operating expenses. While the fee income tends to be unpredictable, making a near-term repeat of 1Q12's strength unlikely, we believe underlying trends remain favorable...Higher than expected loan growth, improved fee income and higher than expected buybacks in FY13 could be catalysts for outperformance to our $8.75 price target."
"We are increasing our FY12/FY13 EPS estimates from $0.71 and $0.72 to $0.76 and $0.82, respectively. We note our FY13 estimates include share repurchases of $86MM/qtr, which is consistent with the current repurchase plan."
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 $7.99 yesterday.
Analyst, Mike Turner, said, "KEY's 1Q12 results were above expecations on higher fee income as well as lower than expected operating expenses. While the fee income tends to be unpredictable, making a near-term repeat of 1Q12's strength unlikely, we believe underlying trends remain favorable...Higher than expected loan growth, improved fee income and higher than expected buybacks in FY13 could be catalysts for outperformance to our $8.75 price target."
"We are increasing our FY12/FY13 EPS estimates from $0.71 and $0.72 to $0.76 and $0.82, respectively. We note our FY13 estimates include share repurchases of $86MM/qtr, which is consistent with the current repurchase plan."
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 $7.99 yesterday.
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