UBS Cuts Price Target on KeyCorp (KEY) Ahead of FNFG Deal
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Compass Point Cuts Price Target on KeyCorp (KEY) Following Announced First Niagara (FNFG) Acquisition
November 3, 2015 9:44 AM ESTCompass Point maintained a Buy rating on KeyCorp (NYSE: KEY), and cut the price target to $16.00 (from $17.50), following the company's announced acquisition of First Niagara (NASDAQ: FNFG). KEY shares came under pressure following the release of the deal terms, with investors in particular honing in on the large hit to TBV disclosed by management and relatively long payback period of 10+ years.
Analyst Jesus Bueno commented, "We reiterate our Buy rating and lower our target price to $16 from... More
Notable Analyst Rating Changes 11/2: (MGM) (ABBV) (KEY) Upgraded; (JMEI) (SBRA) (ANET) Downgraded
November 2, 2015 10:25 AM ESTUPGRADES
UBS moves MGM Resorts (NYSE: MGM) from Neutral to Buy and moves its price target from $23 to $27. Click Here for more color.
AbbVie (NYSE: ABBV) upgraded by two:
Goldman Sachs from Buy to Conviction Buy... MoreCiti Upgrades KeyCorp (KEY) to Buy
November 2, 2015 8:44 AM ESTCiti upgraded KeyCorp (NYSE: KEY) from Neutral to Buy with a price target of $16.00.
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 $12.42 yesterday.
... MoreKeefe, Bruyette & Woods Upgrades KeyCorp (KEY) to Outperform
November 2, 2015 7:33 AM ESTKeefe, Bruyette & Woods upgraded KeyCorp (NYSE: KEY) from Market Perform to Outperform with a price target of $15.50.
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 $12.42 yesterday.
... MoreStandpoint Research Starts KeyCorp (KEY) at Buy
October 30, 2015 2:38 PM EDTStandpoint Research initiated coverage on KeyCorp (NYSE: KEY) with a Buy rating and a price target of $15.00.
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 $13.38 yesterday.
... MoreS&P Lowers Outlook on KeyCorp (KEY) to Negative Following Move to Acquire First Niagara (FNFG)
October 30, 2015 12:42 PM EDTStandard & Poor's Ratings Services said it revised its outlook on KeyCorp (NYSE: KEY) and its bank subsidiary, KeyBank N.A., to negative from stable. We also affirmed our ratings on the entities, including the 'BBB+/A-2' holding company issuer credit ratings on KeyCorp and the 'A-/A-2' issuer credit ratings on KeyBank.
"The negative outlook is based on our view that although the acquisition of First Niagara Financial Group Inc. will broaden KeyCorp's commercial and retail banking franchise into overlapping and adjacent markets, we believe the substantial size and scope of the acquisition... More
Notable Mergers and Acquisitions 10/30: (SWKS)/(PMCS) (KEY)/(FNFG) (OMCL)
October 30, 2015 9:50 AM EDT* Skyworks Solutions, Inc. (Nasdaq: SWKS) and PMC-Sierra, Inc. (PMC) (Nasdaq: PMCS) announced that they have entered into an amended and restated merger agreement under which Skyworks has agreed to acquire PMC for $11.60 in cash per share of PMC common stock, an increase from its previous agreement to acquire PMC for $10.50 in cash per share of PMC common stock. The amended and restated merger agreement also provides for an increase in the termination fee from $70.0 million to $88.5 million. All other material terms of the merger agreement previously announced on... More
Pre-Open Stock Movers 10/30: (CRAY) (YRCW) (LNKD) Higher; (AAN) (CTRL) (SCTY) Lower (more...)
October 30, 2015 9:33 AM EDTVirtualScopics (NASDAQ: VSCP) 50.8% HIGHER; reported Q3 EPS of ($0.02), versus ($0.33) reported last year. Revenue for the quarter came in at $3.22 million, versus $2.74 million reported last year.
... MoreKeyCorp (KEY) to Acquire First Niagara Financial Group (FNFG) in ~$4.1B Deal
October 30, 2015 6:32 AM EDTKeyCorp (NYSE: KEY) and First Niagara Financial Group (NASDAQ: FNFG) announced that they have entered into a definitive agreement under which KeyCorp will acquire First Niagara in a cash and stock transaction for total consideration valued at approximately $4.1 billion.
First Niagara, headquartered in Buffalo, N.Y., has $39 billion in assets and $29 billion in deposits and 394 banking offices in New York, Pennsylvania, Connecticut and Massachusetts. With approximately $135 billion of assets, the combined bank will be the 13th largest commercial bank headquartered in the U.S.
The... More
Streetinsider.com's Hot Lunchtime Reads 10/29: (FNFG) (ABX) (FFF) (ANTM)
October 29, 2015 12:17 PM EDTThe following is a list of notable articles to help get you through the lunch hour:Inventory Correction Led to NXP Semiconductors (NXPI) Guide Down ->... More
UPDATE: KeyCorp (KEY) Said in Talks to Acquire First Niagara Financial Group (FNFG) - DJ
October 29, 2015 11:21 AM EDT(Updated - October 29, 2015 11:42 AM EDT)
KeyCorp (NYSE: KEY) is advanced talks to acquire First Niagara Financial Group (Nasdaq: FNFG), according to Dow Jones sources. The report states the deal would value First Niagara... More
