KeyCorp Has A Promising Backdrop
- KeyCorp's stock has underperformed its benchmark so far in 2018.
- However, this regional bank has a promising backdrop and should benefit from several major tailwinds over the next few years.
- I am long KeyCorp, and I plan to stay long the stock for the foreseeable future.
KeyCorp ($KEY) is a regional bank that I previously described as being "well-positioned for 2018 and beyond". The stock has, however, underperformed the SPDR S&P Regional Banking ETF (KRE) by a wide margin so far in 2018.
I believe that the underperformance for KEY's shares has created a buying opportunity for investors who have a long-term view because, in my opinion, KeyCorp has a promising (and improving) backdrop and this regional bank's management team has it in a great position to capitalize on several major tailwinds.
Read more here.