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Fly News Breaks for July 5, 2016
KEY
Jul 5, 2016 | 06:23 EDT
Morgan Stanley analyst Ken Zerbe upgraded KeyCorp to Overweight with a $15 price target. The analyst recently met with management and came away with increased confidence the company will achieve its goal of $400M in expense savings, and potentially more, as it integrates in First Niagara. Zerbe sees over 200bps of ROTCE improvement through 2018, combined with accelerating earnings growth, making valuation too low to ignore.
News For KEY From the Last 2 Days
KEY
Apr 19, 2024 | 09:24 EDT
KEY
Apr 19, 2024 | 08:34 EDT
KEY
Apr 18, 2024 | 08:50 EDT
KEY
Apr 18, 2024 | 07:03 EDT
Sees FY24 noninterest income up 5%+. Sees relatively stable noninterest expense vs. FY23, net charge-offs 30-40bps, and a GAAP tax rate of about 20%.
KEY
Apr 18, 2024 | 07:02 EDT
In the long term the company expects: positive operating leverage, cash efficiency ratio of 54%-56%, net charge-offs to average loans 40-60 basis points and ROTCE 16%-19%. Guidance taken from Q1 investor presentation slides.
KEY
Apr 18, 2024 | 06:34 EDT
KEY
Apr 17, 2024 | 13:19 EDT
Notable companies reporting before tomorrow's open, with earnings consensus, include Blackstone (BX), consensus 96c... Elevance Health (ELV), consensus $10.53... D.R. Horton (DHI), consensus $3.06... Genuine Parts (GPC), consensus $2.16... Snap-on (SNA), consensus $4.64... Keycorp (KEY), consensus 22c... Ally Financial (ALLY), consensus 33c... Alaska Air (ALK), consensus ($1.05).
