Northern Trust price target raised to $123 from $105 at RBC Capital

RBC Capital raised the firm’s price target on Northern Trust (NTRS) to $123 from $105 and keeps an Outperform rating on the shares as part of a broader research note on U.S. Banks, reflecting the firm’s latest outlook for Markets and Investment Banking revenues. RBC’s higher price target primarily reflects its profitability and risk assessment of the company relative to a peer group of similar companies, as well as the current economic expectations, the analyst tells investors in a research note.