UPDATE: ISI Raises Price Target on Northern Trust to $50 - Northern Trust (NASDAQ:NTRS)

27% profits every 20 days?

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According to ISI, Northern Trust (NASDAQ: NTRS) price target is raised to $50.ISI said that reported EPS was $0.53 but includes $0.17 p.s. of restructuring charges partially offset by an $0.03 Visa expense benefit and $0.02 settlement benefit. “With the EPS upside and a better market backdrop, we are becoming more constructive on NTRS vs. our top pick STT in the trust bank space, and see NTRS as a potentially more consistent growth story over 2012-2013 that investors may enable the stock's PE to expand from 14x 2012E (our PT assumes 14-15x 2013E a year from now), with catalysts coming from quarterly earnings.”Northern Trust closed yesterday at $41.22.

27% profits every 20 days?

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