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Downgrade Alert for Keycorp (KEY)

By Shiri Gupta

Keycorp (NYSE:KEY) was downgraded from Overweight to Neutral at Piper Jaffray today. The stock closed yesterday at $12.32 on volume of 15.7 million shares, above average daily volume of 12.8 million.

Over the past year, Keycorp has traded in a range of $9.88 to $15.70 and closed yesterday at $12.32, 25% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.5%.

There is potential upside of 21.9% for shares of Keycorp based on a current price of $12.32 and an average consensus analyst price target of $15.02. The stock should find resistance at its 200-day moving average (MA) of $12.56, as well as support at its 50-day MA of $11.43.

KeyCorp is a financial services holding company. The Company provides a wide range of retail and commercial banking, commercial leasing, investment management, consumer finance and investment banking products and services to individual, corporate and institutional clients.

SmarTrend is tracking the current trend status for Keycorp and will alert subscribers who have KEY in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades keycorp

Ticker(s): KEY