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UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Northern Trust Corporation

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In a report published Monday, Jefferies & Company reiterated its Hold rating on Northern Trust Corporation (NASDAQ: NTRS), but slightly lowered its price target from $49.00 to $48.00.

Jefferies noted, “Despite a decent market rally this summer, we expect 3Q results to reveal a mixed revenue picture, with weaker transaction fees and spread income negating market tailwinds. We expect a modest EPS beat from NTRS and slight misses for BK and STT. While 2013 EPS gets support from higher markets, we are skeptical the group can sustain spread income at current levels given more challenging asset yields.”

Northern Trust Corporation closed on Friday at $47.35.

Latest Ratings for NTRS

DateFirmActionFromTo
Sep 2014Deutsche BankMaintainsHold
Jul 2014JP MorganUpgradesUnderweightNeutral
Jul 2014JP MorganMaintainsNeutral

View More Analyst Ratings for NTRS
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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