8.8 C
New York
Thursday, March 28, 2024

UPDATE: Morgan Stanley Reiterates On Northern Trust Corporation On Pullback In Expectations

Courtesy of Benzinga.

Related NTRS
Earnings Scheduled For October 15, 2014
Benzinga's Top Upgrades
Week Ahead: Loads of Bank Earnings (Fox Business)

In a report published Friday, Morgan Stanley analyst Betsy L. Graseck reiterated an Underweight rating on Northern Trust Corporation (NASDAQ: NTRS), but lowered the price target from $74.00 to $70.00.

In the report, Morgan Stanley noted, “Although we see 11% upside to current share price, we are Underweight NTRS as we expect other LC banks will outperform on improving credit or accelerating share gain. Drivers to get more positive on the stock are accelerating AUC/AUM wins, faster path to target efficiencies, higher short-end rates. NTRS should be of interest to yield investors as its dividend yield is 2.1% and total yield including stock buybacks is 5.2%.”

Northern Trust Corporation closed on Thursday at $62.86.

Latest Ratings for NTRS

Date Firm Action From To
Oct 2014 Keefe Bruyette & Woods Maintains Market Perform
Oct 2014 Jefferies Maintains Hold
Oct 2014 Deutsche Bank Maintains Hold

View More Analyst Ratings for NTRS
View the Latest Analyst Ratings

Posted-In: Betsy L. Graseck Morgan StanleyAnalyst Color Price Target Analyst Ratings

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,452FansLike
396,312FollowersFollow
2,280SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x