Northern Trust price target raised to $131 from $127 at Wells Fargo

Wells Fargo raised the firm’s price target on Northern Trust (NTRS) to $131 from $127 and keeps an Equal Weight rating on the shares. The firm notes Q3 EPS of $2.29 was 3c above cons, but with help from provisions and f/x, mitigated by a high tax rate. Core servicing fee growth and asset/wealth fees lagged peers, but net interest income was slightly better.