KeyCorp (KEY) NewsBite - KEY Gets Buy Rating From BofA/Merrill

Posted: Tuesday, October 13, 2009 12:11 PM EDT

KeyCorp (NYSE: KEY) opened at $6.28. So far today, the stock has hit a low of $6.26 and a high of $6.44. KEY is now trading at $6.41, up $.10 (1.58%). The stock hit its 52-Week high of $13.85 in November and set its 52-Week low of $4.40 in July. BofA/Merrill initiated coverage on KEY today with a Buy rating and set a price target of $8 on the stock. Technical indicators for the stock are neutral and S&P gives KEY a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on KEY the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 5 range. [ABR-Seven Summits Strategic Investments NewsBite]

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