RBC Capital raised the firm’s price target on KeyCorp to $16 from $15 and keeps an Outperform rating on the shares after its Q1 results, saying the company has kicked off the year with a “solid quarter”. KeyCorp’s net interest margin has likely bottomed in Q3 of 2023, and Q1 should be the low point in net interest income, setting it up for a positive increase in over the next six quarters, the analyst tells investors in a research note. KeyCorp should also continue their conservative management of credit and perform stronger than the last credit cycle, the firm added.
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