KeyCorp price target raised to $18.50 from $16.50 at Piper Sandler

Piper Sandler analyst R. Scott Siefers raised the firm’s price target on KeyCorp to $18.50 from $16.50 and keeps an Underweight rating on the shares. The Midwest bank group has done well since earnings as investors gear toward the "soft landing" thesis, but there is still a lot of uncertainty, and the likely direction of most trends is worse, the analyst tells investors in a research note.