Highlights

  • JPMorgan revised its price objective while keeping a neutral rating
  • Analyst views remain split across buy, hold, and sell categories
  • Latest quarter reported earnings above consensus estimates

KeyCorp (NYSE:KEY) appeared in recent brokerage research after JPMorgan Chase & Co. raised its price objective to $24.50 from $22.00, while retaining a neutral rating, according to Benzinga. Other research firms have also updated their views. Weiss Ratings reaffirmed a hold (C+) rating, while Keefe, Bruyette & Woods lifted its target to $24.00 and maintained an outperform rating. TD Cowen reiterated a buy rating, Jefferies Financial Group raised its target to $22.00 and kept a hold rating, and Citigroup reissued a neutral rating.

How current prices compare with analyst targets
KeyCorp shares last closed at $23.01 on 9 February, up 4.31% over the past five trading days. Based on the latest price provided, JPMorgan’s $24.50 target implies a potential upside of 6.22% from the current level. MarketBeat data shows that twelve analysts rate the stock as Buy, six as Hold, and three as Sell, resulting in an average rating of Hold and an average target price of $23.03. These figures reflect analyst assessments at the time of publication.

Earnings and revenue updates from the latest quarter
The company reported quarterly results on 20 January, posting earnings per share of $0.41, compared with a consensus estimate of $0.39. Revenue for the quarter totalled $2.01 billion, above the $1.95 billion expected by analysts. Net margin for the period was 15.97%, while return on equity stood at 10.28%. In the same quarter a year earlier, earnings per share were $0.30, and quarterly revenue increased 131.8% year over year. Analysts, on average, expect earnings per share of 1.5 for the current fiscal year.

Business scope and service lines
KeyCorp is a bank holding company headquartered in Cleveland, Ohio, operating primarily through its banking subsidiary, KeyBank. The group provides banking and financial services to individuals, small businesses, middle-market firms, and large corporations. Its offerings include retail deposit products, consumer and residential mortgage lending, auto financing, and a range of financial solutions for commercial and institutional clients.