Analysts have been eager to weigh in on the Financial sector with new ratings on KeyCorp (KEY), Intercontinental Exchange (ICE) and Deutsche Bank AG (DB).
KeyCorp (KEY)
In a report issued on June 8, Jim Corridore from CFRA reiterated a Buy rating on KeyCorp, with a price target of $21. The company’s shares opened today at $17.24.
Corridore commented:
“We project low-single-digit net interest income (NII) growth for 2019, driven by continued loan growth and modest net interest spread expansion. Q1 2019 total revenue of $1.52B fell 2.1%, year-over-year, versus $1.55B in Q1 2018. NII grew 3.5% to $985M, while non-interest income declined 11% to $536M. We expect low-single-digit non-interest income growth on investment banking activities, however, going forward.”
According to TipRanks.com, Corridore is ranked #1220 out of 5194 analysts.
KeyCorp has an analyst consensus of Moderate Buy, with a price target consensus of $18.50.
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Intercontinental Exchange (ICE)
CFRA analyst Christopher Kuiper maintained a Hold rating on Intercontinental Exchange on June 8 and set a price target of $85. The company’s shares opened today at $84.94, close to its 52-week high of $86.78.
Kuiper commented:
“We see revenue growth of 4% to 5% in 2019 and into 2020 supported by higher trading volumes in commodities, a rising rate environment and expanded non-trading products and services. We see growth continuing to be driven by the Data and Listing segment (now over 50% of revenue) due to the increased demand for pricing and analytics as well as exchange data.”
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Intercontinental Exchange with a $88 average price target.
Deutsche Bank AG (DB)
In a report released today, Daniele Brupbacher from UBS maintained a Sell rating on Deutsche Bank AG, with a price target of $5.70. The company’s shares opened today at $6.98, close to its 52-week low of $6.61.
According to TipRanks.com, Brupbacher is ranked #4521 out of 5194 analysts.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Deutsche Bank AG with a $7.87 average price target, implying a 12.8% upside from current levels. In a report issued on June 4, Merrill Lynch also reiterated a Sell rating on the stock with a $6 price target.
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