Raymond James initiated coverage of KeyCorp with a Market Perform rating and no price target. The analyst believes the “severe headwinds” from the 2023 bank liquidity crisis and its after-effects, which pressured KeyCorp shares, have subsided. Additionally, the analyst is confident that Key‘s net inters margin has bottomed. However, the firm believes Key shares’ premium multiple relative to peers banks is a relatively bullish case for the stock, limiting the near-term upside potential.
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