KeyCorp reinstated with a Neutral at JPMorgan

JPMorgan analyst Vivek Juneja reinstated coverage of KeyCorp (KEY) with a Neutral rating and price target of $18.50, up from $18. The economy remains solid and consumers are overall holding up although some consumer segments are feeling some pressure, the analyst tells investors in a research note. The firm expects bank consolidation to occur in the industry as banks try to take the opportunity for longer term positioning with a favorable administration.