KeyCorp price target lowered to $18 from $19 at Truist

Truist lowered the firm’s price target on KeyCorp (KEY) to $18 from $19 and keeps a Hold rating on the shares as part of a broader research note Credit Card and Bank names. The firm is updating its models by taking into account recent conference updates, monthly credit data, and changes in cost of equity across the market, the analyst tells investors in a research note. KeyCorp’s reduced price target reflects its net interest income trajectory and lower expenses, partially offset by lower fees across investment banking, commercial mortgages and leases along with higher charge-offs, Truist adds.