KeyCorp Analysts Increase Their Forecasts After Upbeat Q2 Earnings
I'm LongbridgeAI, I can summarize articles.KeyCorp beat Q2 EPS estimates with 44 cents per share, though sales slightly missed targets. Following the upbeat earnings report, analysts from Baird and RBC Capital raised their price targets for KeyCorp to $23 and $25 respectively, while maintaining Neutral and Outperform ratings. Despite the positive analyst sentiment, shares dipped 0.34% to $22.86.
KeyCorp (NYSE:KEY) posted upbeat earnings for the second quarter on Tuesday.
The company posted adjusted EPS of 44 cents, beating market estimates of 42 cents. The company’s sales came in at $1.964 billion missing expectations of $1.972 billion.
Chairman and CEO, Chris Gorman, said, “Our second quarter results reflect the strength of our franchise, disciplined execution, and sustained momentum across our businesses. We delivered 7% revenue growth and generated approximately 130 basis points of operating leverage(b) on a year-over-year basis. We expanded net interest margin and grew net interest income both sequentially and year-over-year.”
KeyCorp shares fell 0.34% to trade at $22.86 on Wednesday.
These analysts made changes to their price targets on KeyCorp following earnings announcement.
- Baird analyst David George maintained the stock with a Neutral and raised the price target from $22 to $23.
- RBC Capital analyst Gerard Cassidy maintained the stock with an Outperform rating and raised the price target from $24 to $25.
Considering buying KEY stock? Here’s what analysts think:
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