KeyCorp price target raised to $23 from $21 at DA Davidson

Core Viewpoint - DA Davidson analyst Peter Winter raised the price target on KeyCorp (KEY) to $23 from $21 while maintaining a Buy rating on the shares, indicating positive sentiment towards the company's future performance [1] Group 1: Company Strategy - KeyCorp confirmed during the Goldman Sachs U.S. Financial Services Conference that it will not pursue bank acquisitions, opting instead to use excess capital for organic growth and to accelerate share buybacks, which is viewed positively by the market [1] Group 2: Financial Performance - The company is experiencing better than expected revenue momentum, contributing to a positive outlook for its financial performance [1] - KeyCorp is maintaining a positive credit outlook into the next year, suggesting stability and confidence in its financial health [1]