KeyCorp price target raised to $18 from $17 at RBC Capital

RBC Capital raised the firm’s price target on KeyCorp (KEY) to $18 from $17 and keeps an Outperform rating on the shares after its Q3 earnings beat. The company saw strong core growth in the quarter, and its Q2 has likely marked the inflection quarter for net interest income and net interest margin, the analyst tells investors in a research note. RBC adds that it sees continued growth through 2025 while also noting that the ongoing restructuring of KeyCorp’s bond portfolio in conjunction with the Bank of Nova Scotia investment will likely be the drivers of its net interest income growth.