Barclays Maintains an 'Overweight' on State Street (STT); Highlights From Meeting With CFO

Barclays maintains an 'Overweight' on State Street (NYSE: STT) price target of $54.00.

Analyst, Jason R. Goldberg, listed top takeaways from a meeting with STT"s CFO, including: 1) While global market levels continue to increase and new business wins persist, other market conditions present near-term challenges; 2) Despite a challenging backdrop near term, STT remains committed to grow earnings (10-15%) and revenues (8-12%) overtime; 3) It believes it can generate a normalized ROE above peers (12-15%), implying significant earnings upside if rates rise, expenses are cut and capital is deployed; and 4) 4) In 2012, we expect STT to increase both its dividend (+20%) and share repurchase program (to 4%+ of outstandings). "Excess capital" exceeds 10% of its market cap."

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 $41.76 yesterday.

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