** Citi Research upgrades U.S. regional lender KeyCorp KEY.N to "buy" from "neutral" on attractive valuation and solid fundamentals following the recent pullback across the banking sector
** Brokerage says with credit concerns mounting amidst recently elevated worries of a weakening macro backdrop, KEY should be a safe haven due to below average credit risk
** KEY has the lowest consumer exposure within Citi's bank coverage universe, which the brokerage believes should limit market fears from a potentially softening macroeconomic conditions
** Citi maintains $20 PT on KEY, a 27% upside to stock's last close
** Ten of 23 brokerages rate the stock "buy" or higher and 13 "hold"; median PT is $20 — LSEG data
** KEY stock down 12% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
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