KeyCorp price target raised to $27 from $26 at DA Davidson

DA Davidson analyst Peter Winter raised the firm’s price target on KeyCorp (KEY) to $27 from $26 and keeps a Buy rating on the shares after hosting investor meetings with the company management to discuss its organic growth. The firm has detailed several levers that should drive peer-leading earnings growth and higher profitability, namely repricing benefit from $34 billion in low-yielding earning assets, leveraging peer-leading capital ratios to support organic growth, and ramping up growth in middle market banking, investment banking, and wealth management, the analyst tells investors in a research note.