TD Cowen analyst Steven Alexopoulos raised the firm’s price target on Northern Trust (NTRS) to $175 from $165 and keeps a Buy rating on the shares. The firm updated its model following 4Q25 core EPS of $2.62, that beat expectations on stronger PTPP income and lower provision expense. With momentum building in fee businesses and strong execution on managing expenses, the 2026 outlook appears positive.
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