Analysts Offer Insights on Financial Companies: KeyCorp (NYSE: KEY), Intercontinental Exchange (NYSE: ICE) and Deutsche Bank AG (NYSE: DB)

By Austin Angelo

Analysts have been eager to weigh in on the Financial sector with new ratings on KeyCorp (KEYResearch Report), Intercontinental Exchange (ICEResearch Report) and Deutsche Bank AG (DBResearch Report).

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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