KeyCorp

(New York Stock Exchange)
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Bullish +65

Robert W. Baird Forecasts Strong Price Appreciation for KeyCorp (NYSE ...

AI-generated analysis

πŸ“ˆ Robert W. Baird raised KeyCorp's price target to $23.00 from $22.00, indicating a potential 1.35% upside.

πŸ“Š DA Davidson upgraded the stock to a 'buy' rating with a new target price of $27.00.

πŸ“ˆ Morgan Stanley increased its target price to $25.00 while maintaining an 'equal weight' rating.

πŸ” Stephens initiated coverage with an 'overweight' rating and a $26.00 price target.

πŸ’° KeyCorp beat quarterly EPS estimates, reporting $0.44 per share against a consensus of $0.42.

πŸ“ˆ Revenue grew 6.7% year-over-year to reach $1.96 billion for the quarter.

🏦 The company achieved a net margin of 17.83% and a return on equity of 11.23%.

πŸ”„ KeyCorp authorized a new stock buyback program allowing the purchase of up to $3.00 billion in shares.

πŸ“‰ Insider Angela G. Mago sold 22,826 shares for approximately $494,411 on May 8th.

πŸ›οΈ Institutional ownership stands at 79.69%, with True Wealth Design LLC increasing its stake by 1,263.5%.

Bullish Signals
  • Analysts at Robert W. Baird raised the price target to $23.00, suggesting a potential 1.35% upside from the previous close.
  • DA Davidson upgraded KeyCorp to a 'buy' rating and increased its price target to $27.00.
  • Morgan Stanley raised its price target to $25.00, reflecting continued analyst interest in the stock.
  • Stephens initiated coverage with an 'overweight' rating and set a $26.00 price target.
  • KeyCorp beat quarterly earnings expectations with EPS of $0.44 compared to the consensus estimate of $0.42.
  • Revenue increased by 6.7% year-over-year to reach $1.96 billion, demonstrating growth in core operations.
  • The company achieved a net margin of 17.83% and a return on equity of 11.23%, indicating strong profitability.
  • KeyCorp announced a $3.00 billion stock buyback program, signaling management confidence in the stock's value.
  • Institutional ownership remains robust at 79.69%, with significant new positions taken by firms like True Wealth Design LLC.
Risk Factors
  • KeyCorp reported revenue of $1.96 billion, which was slightly below the analyst consensus estimate of $1.97 billion.
  • Insider Angela G. Mago sold 22,826 shares for a total value of $494,411.16, reducing her ownership by 7.50%.
Full Analysis
Analysts at Robert W. Baird raised their price target for KeyCorp (NYSE:KEY) from $22.00 to $23.00, citing potential upside of 1.35% from the previous close. The brokerage maintains a 'neutral' rating on the stock. Other major firms have also adjusted their targets recently; DA Davidson increased theirs to $27.00 with a 'buy' rating, while Morgan Stanley raised theirs to $25.00 with an 'equal weight' rating. Stephens initiated coverage with an 'overweight' rating and a $26.00 target, and Jefferies Financial Group adjusted its objective to $23.00. KeyCorp reported quarterly earnings on July 21st, beating analyst expectations for EPS at $0.44 versus the consensus of $0.42. Revenue came in at $1.96 billion, slightly below the estimated $1.97 billion, though it represented a 6.7% year-over-year increase. The company achieved a net margin of 17.83% and a return on equity of 11.23%. Analysts currently forecast full-year EPS of $1.82 for the current year. The company announced a new stock buyback program authorized by its Board of Directors, allowing it to repurchase up to $3.00 billion in shares, which represents approximately 13% of its outstanding stock. This initiative signals management's belief that shares are undervalued. Additionally, institutional ownership remains high at 79.69%, with several firms like True Wealth Design LLC significantly increasing their stakes during the fourth quarter.