KeyCorp price target lowered to $14 from $17 at Argus

Argus lowered the firm’s price target on KeyCorp to $14 from $17 and keeps a Buy rating on the shares after its Q2 results. The company’s lending balances have improved, with greater utilization of commercial loans and benefits from Q1, the analyst tells investors in a research note. The firm adds however that its reduced price target reflects higher deposit costs and loss provisioning weighing on the outlook.