Wedbush raised the firm’s price target on KeyCorp to $16 from $15 and keeps a Neutral rating on the shares. KeyCorp reported a mixed quarter and lowered its FY24 loan growth outlook as a result of lukewarm customer demand, the analyst tells investors in a research note. KeyCorp’s outlook is appropriately reflected in its relative valuation, but the firm is encouraged by the potential for NII growth related to repricing of treasuries and swaps through 1Q25.
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