Jefferies Adjusts Estimates on State Street (STT); A Short-Term, Long-Term Debate
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Price: $187.13 +2.22%
Rating Summary:
15 Buy, 14 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 14 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies maintains a 'Hold' on State Street (NYSE: STT) price target raised from $41 to $45.
Jefferies analyst says, "STT's investor day demonstrated the near-term challenges still facing the trust banks. While market levels are up, business activity remains somewhat muted, leading to a modest revenue growth outlook for '12. We take estimates up vs. our overly conservative view on a few line items, moving to $3.90 for '12 and $4.60 for '13. Long-term ROE guidance of 12%-15% is possible, but a long way away on achievability, in our view."
"We move '12 EPS to $3.90 from $3.75 on a better trajectory for NIM and asset mgmt. fees relative to our prior model and '13 goes to $4.60 from $4.50."
For an analyst ratings summary and ratings history on State Street click here. For more ratings news on State Street click here.
Shares of State Street closed at $41.10 yesterday.
Jefferies analyst says, "STT's investor day demonstrated the near-term challenges still facing the trust banks. While market levels are up, business activity remains somewhat muted, leading to a modest revenue growth outlook for '12. We take estimates up vs. our overly conservative view on a few line items, moving to $3.90 for '12 and $4.60 for '13. Long-term ROE guidance of 12%-15% is possible, but a long way away on achievability, in our view."
"We move '12 EPS to $3.90 from $3.75 on a better trajectory for NIM and asset mgmt. fees relative to our prior model and '13 goes to $4.60 from $4.50."
For an analyst ratings summary and ratings history on State Street click here. For more ratings news on State Street click here.
Shares of State Street closed at $41.10 yesterday.
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