KeyCorp
KEY: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$76.00 | Hmhy | Vpgnbzhwd |
Raising Fair Value for KeyCorp to $22 From $21; Shares Materially Undervalued
Business Strategy and Outlook
KeyCorp is a midsize U.S. regional bank. The firm has the largest relative exposure to investment banking-related fees among the regional banks under our coverage, is investing in a unique digitally focused retail business (Laurel Road), and has an odd geographic mix, as Ohio, New York, and Washington state are its three largest deposit markets.