Goldman Sachs And Citigroup Stay Bullish On KeyCorp, Boost Price Targets Despite Q2 2023 Miss

Analysts raised their respective price targets on KeyCorp KEY despite Q2 2023 earnings miss.

Last week, the company reported revenues of $1.595 billion, down 11% year over year, missing the estimates of $1.63 billion, and EPS of $0.27 came below the Street view of $0.31.

Goldman Sachs analyst raised the price target to $13 from $11.5 at a Buy rating.

Also, Citigroup analyst increased the price target to $15 from $14 with a Buy rating.

The analyst raised the EPS estimate to $0.80 (from $0.70) for 2023 and $1.30 (from 1.25) for 2024. 

Meanwhile, maintaining a Buy rating, Argus Research analyst reduced the price target to $14 from $17. 

Price Action: KEY shares are up 4.60% at $11.952 on the last check Monday.