Information Provided By:
Fly News Breaks for December 20, 2019
KEY
Dec 20, 2019 | 06:33 EDT
As previously reported, Wedbush analyst Peter Winter upgraded KeyCorp to Outperform from Neutral with a price target of $23, up from $21. He believes KeyCorp can hit the top-end of its cash efficiency ratio target of 54%-56% in 2020 as he contends its margin is one of the best positioned for the current rate environment, Winter tells investors. He is also forecasting average loan growth to increase to 4.4% in 2020 from 3.4% in 2019, compared to his expectation for loan growth to moderate for most other regional banks, the analyst noted.