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Upgrade Alert for Keycorp (KEY)

By James Quinn

Keycorp (NYSE:KEY) was upgraded from Equal Weight to Overweight at Morgan Stanley today. The stock closed yesterday at $10.68 on volume of 14.1 million shares, above average daily volume of 12.8 million.

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.

There is potential upside of 40.6% for shares of Keycorp based on a current price of $10.68 and an average consensus analyst price target of $15.02. Keycorp shares should first meet resistance at the 50-day moving average (MA) of $11.43 and find additional resistance at the 200-day MA of $12.56.

Over the past year, Keycorp has traded in a range of $9.88 to $15.70 and closed yesterday at $10.68, 8% 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%.

SmarTrend recommended that its subscribers protect gains by selling shares of Keycorp on June 16th, 2016 by issuing a Downtrend alert when the shares were trading at $11.47. Since that call, shares of Keycorp have fallen 4.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades keycorp

Ticker(s): KEY