KeyCorp upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler upgraded KeyCorp to Overweight from Neutral with a price target of $13.50, up from $12. While the stock has already begun to recover, it remains among the worst year-to-date performers among the universal banks, the analyst tells investors in a research note. With funding issues “beginning to move to the rear-view,” the firm is becoming more comfortable with KeyCorp net interest income trajectory. It views the stock’s risk/reward as “compelling.”