KeyCorp price target raised to $19 from $18 at Jefferies

Jefferies raised the firm’s price target on KeyCorp (KEY) to $19 from $18 and keeps a Buy rating on the shares. The firm updated its model for the Scotiabank (BNS) minority stake deal, telling investors that it estimates net interest income, or NII, benefits of about $400M thru FY25. EPS accretion has upside if cash proceeds are remixed as dry powder to power loan growth and fee-generating business opportunities, the analyst tells investors in a research note.