Wells Fargo Maintains Overweight on KeyCorp, Raises Price Target to $16
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Mike Mayo has maintained an Overweight rating on KeyCorp (NYSE:KEY) and increased the price target from $12 to $16.
December 14, 2023 | 5:38 pm
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POSITIVE IMPACT
Wells Fargo analyst Mike Mayo reaffirmed an Overweight rating on KeyCorp and raised the price target from $12 to $16, indicating a positive outlook on the stock.
The increase in price target by a reputable analyst like Mike Mayo suggests a strong conviction in KeyCorp's future performance. This typically instills confidence in investors and can lead to a short-term increase in the stock price as market participants adjust their valuations to align with the new analyst expectations.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100