UBS on Trust Banks and Processors: Q2 Earnings Preview - STT Remains 'Top Pick' & Only 'Buy'
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Price: $137.16 --0%
Rating Summary:
19 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
19 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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UBS on Trust Banks and Processors: Q2 Earnings Preview
Analyst, Greg Ketron, said, "We are generally inline across the group with Bank of NY Mellon (NYSE: BK) equal to consensus and Northern Trust (Nasdaq: NTRS) and State Street (NYSE: STT)(Buy-rated) $0.01 below. STT remains our top-pick and only Buy in the group. Though we are inline with consensus for 2Q12, we believe STT’s advantages in the challenging environment, with excess capital available for deployment being a key, will be highlighted...Lower expenses, capital deployment, and seasonality should drive EPS higher."
"While we don’t expect a return to historic averages, we believe over time lower global economic concerns will lead to multiple expansion. We are lowering forward estimates slightly due to lower rates."
Analyst, Greg Ketron, said, "We are generally inline across the group with Bank of NY Mellon (NYSE: BK) equal to consensus and Northern Trust (Nasdaq: NTRS) and State Street (NYSE: STT)(Buy-rated) $0.01 below. STT remains our top-pick and only Buy in the group. Though we are inline with consensus for 2Q12, we believe STT’s advantages in the challenging environment, with excess capital available for deployment being a key, will be highlighted...Lower expenses, capital deployment, and seasonality should drive EPS higher."
"While we don’t expect a return to historic averages, we believe over time lower global economic concerns will lead to multiple expansion. We are lowering forward estimates slightly due to lower rates."
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