Northern Trust price target raised to $126 from $116 at Truist

Truist analyst David Smith raised the firm’s price target on Northern Trust (NTRS) to $126 from $116 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results for Trust banks. Global equity prices rose 11% in Q2, and fixed income asset levels were up 4.5%, boosting managed assets and fees, while interest rate expectations are also higher, supporting balance sheet driven revenue, the analyst tells investors in a research note.