KeyCorp price target raised to $20 from $18 at Wells Fargo

Wells Fargo analyst Mike Mayo raised the firm’s price target on KeyCorp (KEY) to $20 from $18 and keeps an Overweight rating on the shares following the announced Scotiabank (BNS) investment. The firm estimates that KeyCorp should reach a 11% ROCe and 14% ROTCE in 2025, slightly below the targeted range, although above the longer-term historical average. Risks include greater-than-expected losses and slower loan growth, the analyst tells investors in a research note.