KeyCorp (KEY) Added to Jefferies Franchise Picks List

Jefferies analyst Ken Usdin reiterated a Buy rating and $16 price target on KeyCorp (NYSE: KEY) and added the stock to the Franchise Picks.

Usdin commented, "KEY delivered in the first quarter with First Niagara in numbers. We have even more confidence in the trajectory for EPS and ROTCE and believe the valuation can begin to re-rate closer to peers. Our forward EPS ests. are $1.30 for '17 (up $0.03) and $1.45 for '18 (unchanged), with FNFG cost saves ahead of schedule, legacy KEY loan/deposit/fee growth intact, and credit quality benign. Adding KEY to the Jefferies Franchise Pick List."

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 $13.87 yesterday.

You May Also Be Interested In

• Morgan Stanley Upgrades Telecom Argentina (TEO) to Overweight
• Sunbelt Rentals (SUNB) PT Lowered to $74 at JPMorgan
• KeyBank Named Honoree of The Civic 50 for the Thirteenth Consecutive Year