KeyCorp shares are trading lower after the company issued weak Q4 guidance. Additionally, RBC Capital maintained an Outperform rating on the stock but lowered its price target from $14 to $13.
Portfolio Pulse from Benzinga Newsdesk
KeyCorp shares are trading lower following the company's issuance of weak Q4 guidance. Concurrently, RBC Capital has maintained an Outperform rating on KeyCorp but reduced its price target from $14 to $13.
December 05, 2023 | 5:23 pm
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NEGATIVE IMPACT
KeyCorp's stock is experiencing a downturn due to the company's weaker than expected Q4 guidance, despite RBC Capital's continued Outperform rating and a slight decrease in price target.
The negative impact on KeyCorp's stock price is primarily due to the company's weak Q4 guidance, which suggests potential underperformance in the upcoming quarter. This typically leads to a loss of investor confidence and a decrease in stock price. Although RBC Capital's maintained Outperform rating indicates a positive long-term outlook, the reduction in the price target from $14 to $13 may reinforce the bearish sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100