-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师的观点总结如下：我们将KEY的12个月目标价上调1美元至24美元，相当于2027年每股收益预期值的10.9倍，高于KEY五年平均远期市盈率10.7倍，这主要得益于稳健的投资银行预期和不断扩大的净息差。我们将2026年每股收益预期上调0.03美元至1.87美元，并将2027年每股收益预期上调0.06美元至2.20美元。我们的营收预测分别为81亿美元和86亿美元。尽管宏观经济形势仍不明朗，但KEY的信用质量在预期和历史指标方面均有所改善。监管前景也较为乐观，KEY预计拟议的巴塞尔协议III修订将使其CET1比率提高100个基点以上。鉴于第一季度高达11.4%的CET1比率高于平均水平，KEY银行具备增加股票回购的良好条件。然而，尽管净息差有所扩大（环比增长5个基点，同比增长29个基点），我们仍然对KEY银行维持长期增长的能力持怀疑态度。值得注意的是，该行贷款环比增长1%被存款下降2%所抵消。
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