Goldman Sachs And Citigroup Stay Bullish On KeyCorp, Boost Price Targets Despite Q2 2023 Miss
Portfolio Pulse from Lekha Gupta
Despite KeyCorp's Q2 2023 earnings miss, Goldman Sachs and Citigroup analysts have raised their price targets for the company. KeyCorp reported revenues of $1.595 billion, down 11% YoY, missing estimates of $1.63 billion. EPS of $0.27 also fell short of the $0.31 Street view. Goldman Sachs raised the price target to $13 from $11.5, while Citigroup increased it to $15 from $14. Argus Research, however, reduced the price target to $14 from $17, while maintaining a Buy rating.
July 24, 2023 | 6:53 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
KeyCorp's Q2 2023 earnings miss did not deter Goldman Sachs and Citigroup from raising their price targets. However, Argus Research reduced its price target.
Despite KeyCorp's earnings miss, the raised price targets by Goldman Sachs and Citigroup indicate a positive outlook for the company's stock. This could potentially lead to an increase in the stock's price in the short term. However, Argus Research's reduced price target might temper this bullish sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100