RBC Capital raised the firm’s price target on KeyCorp to $24 from $22 and keeps an Outperform rating on the shares. Bank of Nova Scotia’s (BNS) investment in KeyCorp (KEY) in 2024 has provided the bank with flexibility to restructure its bond portfolio while still enabling it to report excess capital, the analyst tells investors in a research note. This year, KeyCorp should have the optionality on how best to leverage its capital with balance sheet management and stock buybacks, the firm added.
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