RBC Capital lowered the firm’s price target on Northern Trust (NTRS) to $105 from $115 and keeps an Outperform rating on the shares. The company posted strong Q1 results with positive operating leverage, though going forward, market conditions, particularly short-term interest rates, will likely continue to play a key role in determining the bank’s profitability, the analyst tells investors in a research note. With its strong pedigree and management team, Northern Trust should be able to navigate these choppy waters to deliver sustainable results, RBC adds.
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Read More on NTRS:
- Northern Trust price target lowered to $92 from $98 at Truist
- Northern Trust price target lowered to $103 from $117 at Keefe Bruyette
- Northern Trust price target lowered to $118 from $121 at BofA
- Northern’s Hold Rating: Balancing Strong NII with Weaker Fee Growth and Market Challenges
- Northern Trust: Strong Financial Performance and Strategic Positioning Justify Buy Rating