Northern Trust price target raised to $148 from $139 at Truist

Truist raised the firm’s price target on Northern Trust (NTRS) to $148 from $139 and keeps a Buy rating on the shares. After a strong 2025 for trust banks and capital markets stocks, focus shifts to Q4 and 2026 outlooks, where additional Fed rate cuts and a move toward balance sheet expansion should be a net positive, the analyst tells investors in a research note. These tailwinds are expected to more than offset NII pressure for the asset-sensitive group, the firm says.