Zacks Eyes CRE in `Bear of the Day'

The Bear of the Day on Oct. 15 for Zacks Equity Research, Chicago, is Cleveland-based KeyCorp, because of its exposure to commercial real estate. This designation came in advance of KeyCorp's financial results being released on Oct. 21. Zacks said that although KeyCorp has taken steps to reduce its exposure to the CRE residential properties segment, the Cleveland-based company still anticipates higher losses in this portfolio in the coming quarters, particularly in view of its sizeable exposure to the difficult markets of California and Florida. "Ahead of the earnings release, we are maintaining our sell rating on the shares of KeyCorp, with six-month price target of $6.00 per share," Zacks said. The website for Zacks is http://www.zacks.com.