UBS Maintains a 'Neutral' on Northern Trust (NTRS); Current Environment Challenging; Performance Initiative Plan a Plus

UBS maintains a 'Neutral' on Northern Trust (NASDAQ: NTRS) price target raised from $40 to $43.

UBS analyst said, "As reflected in NTRS and the overall trust bank results in Q411, the current operating environment is challenging and will continue in 2012. The company outlined initiatives to increase revenues and reduce expenses through 2013 which we view as a positive, but earnings should remain challenged until there is market and rate improvement."

(UBS lowers FY13 EPS estimate from $3.40 to $3.35)

For an analyst ratings summary and ratings history on Northern Trust click here. For more ratings news on Northern Trust click here.

Shares of Northern Trust closed at $43.17 yesterday.

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