BofA Securities analyst Ebrahim Poonawala maintains $KeyCorp (KEY.US)$ with a buy rating, and adjusts the target price from $18 to $21.
According to TipRanks data, the analyst has a success rate of 68.5% and a total average return of 13.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $KeyCorp (KEY.US)$'s main analysts recently are as follows:
KeyCorp, characterized as one of the regional banks most exposed to capital markets, is considered well positioned to gain from an increase in domestic capital expenditures helped by a recovery in capital markets activity and a gradual increase in commercial loan demand.
The firm maintains a constructive outlook on bank stocks into 2025, projecting accelerated earnings growth due to factors such as improved loan growth, increasing capital markets activity, the return of positive operating leverage, and share buybacks. It anticipates expansions in price-to-earnings multiples supported by a sound economic environment, regulatory reduction, higher returns, and mergers and acquisitions activity. The expectation is that large-cap banks will continue to outperform the market as their earnings growth accelerates.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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