Morgan Stanley Maintains a Hold on KeyCorp (KEY)

Core Viewpoint - KeyCorp (NYSE:KEY) is identified as an affordable stock under $20, with a Hold rating maintained by Morgan Stanley analyst Manan Gosalia, who set a price target of $24 [1][2]. Financial Outlook - The analyst's rating is based on KeyCorp's strategic plans and financial outlook, noting that the company's return on tangible common equity (ROTCE) and net interest margin (NIM) targets are slightly ambitious compared to current estimates [2]. - KeyCorp aims for a NIM of 3.25% by fiscal Q4 2027, while current models suggest a lower estimate of around 3.15%, indicating potential challenges in achieving the desired financial metrics [3]. Company Structure - KeyCorp operates as a bank holding company providing financial services, with its operations divided into Consumer Bank and Commercial Bank segments [3].