Northern Trust price target raised to $132 from $128 at Truist

Truist raised the firm’s price target on Northern Trust (NTRS) to $132 from $128 and keeps a Hold rating on the shares as part of a broader research note on Trust Banks. Trust banks have all been able to grow assets under custody or administration – AUC/A – over time though with the help of a sizable market tailwind, the analyst tells investors in a research note. Truist adds that indexed to 2010, over the entire post-GFC time period, Northern Trust has seen by far the strongest AUC/A growth stripping out market impact.