KeyCorp（KEY.US）BNS stake supports KEY shares， but greater visibility needed to determine upside
KEYKeyp(KEY) UBS·2024-08-14 11:21

ab 13 August 2024 Global Research and Evidence Lab KeyCorp BNS stake supports KEY shares, but greater visibility needed to determine upside Capital injection solves for near term capital, earnings headwinds KEY shares handily outperformed today (+9.1% vs. -0.5% for the BKX) after announcing a 2.8bnstrategicinvestmentinthebankbyScotiabank(14.92.8bn strategic investment in the bank by Scotiabank (14.9% pro forma ownership) at a premium to recent its valuation, though retreated from early trading levels that neared the 17.17 price implied by the deal. We th ...