Jefferies Raises PT and Estimates on Northern Trust (NTRS); Decent Starting Point Even with Revenues Mixed

Jefferies maintains a 'Hold' on Northern Trust (NASDAQ: NTRS) price target raised $1 to $50.

Analyst, Ken Usdin, said, "NTRS began enacting its productivity plan in 1Q, with expense improvement setting a base for a better EPS trajectory. We boost estimates modestly to $3.10 in '12 (up $0.05) and $3.75 in '13 (up $0.10) with our target moving to $50. Capital mgmt. return will be relatively modest for '12 (4.5% "capital return yield"), but with a 12% Basel III Tier 1 common ratio, NTRS is wellpositioned to improve payouts over time."

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 $46.87 yesterday.

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