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Fly News Breaks for February 4, 2019
KEY
Feb 4, 2019 | 07:56 EDT
As previously reported, Wedbush analyst Peter Winter downgraded KeyCorp to Neutral from Outperform, with a $18 price target, based on valuation and ongoing inconsistency in earnings, making it harder for it to close its valuation discount to peers despite above average profitability metrics. Given this trend of inconsistent earnings, in the event of an economic downturn, the analyst would not view KeyCorp as a flight to quality bank.
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