KeyCorp price target raised to $20 from $19 at DA Davidson

DA Davidson analyst Peter Winter raised the firm’s price target on KeyCorp (KEY) to $20 from $19 and keeps a Buy rating on the shares after its Q3 earnings beat. The company has maintained its 2025 net interest income outlook of 20% or more growth, with strong momentum in fee income, led by investment banking and expense growth of low to mid-single digits, but while its Q4 expenses will come in much higher than forecast, some of those costs are one-time in nature, including several investment opportunities to get a head start on 2025, the analyst tells investors in a research note.