Jefferies Maintains a 'Hold' on State Street (STT); Revision Reversal; Better on Top and Bottom
Get Alerts STT Hot Sheet
Price: $74.39 --0%
Rating Summary:
9 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 13
Rating Summary:
9 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 13
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Jefferies maintains a 'Hold' on State Street (NYSE: STT) price target raised from $38 to $42.
Jefferies analyst says, "Raising estimates following better 3Q result. We are raising estimates ('12 to $3.80, '13 to $4.50) to account for a higher starting point in inv. servicing (custody) fees and net interest income (balance sheet size) post a 3Q beat and a better expense outlook for 2012. Near-term, EPS run-rates should be around $0.90/qtr due to spread income pressure and ikely lower FX fees, but continued momentum in core custody and accelerating cost saves should drive the EPS run-rate closer to $1.00/qtr. by 4Q12."
For more ratings news on State Street click here and for the rating history of State Street click here.
Shares of State Street closed at $37.49 yesterday.
Jefferies analyst says, "Raising estimates following better 3Q result. We are raising estimates ('12 to $3.80, '13 to $4.50) to account for a higher starting point in inv. servicing (custody) fees and net interest income (balance sheet size) post a 3Q beat and a better expense outlook for 2012. Near-term, EPS run-rates should be around $0.90/qtr due to spread income pressure and ikely lower FX fees, but continued momentum in core custody and accelerating cost saves should drive the EPS run-rate closer to $1.00/qtr. by 4Q12."
For more ratings news on State Street click here and for the rating history of State Street click here.
Shares of State Street closed at $37.49 yesterday.
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