KeyCorp price target lowered to $22 from $23 at Truist

Truist analyst Brian Foran lowered the firm’s price target on KeyCorp (KEY) to $22 from $23 and keeps a Hold rating on the shares as part of a broader research note on Financials. The firm is updating its models to incorporate the higher cost of equity and thus lower-than-historical multiples that the market is ascribing, the analyst tells investors in a research note.