Goldman Sachs upgraded Northern Trust (NTRS) to Neutral from Sell with a price target of $151, up from $148, implying 7% upside at current levels. The firm cites the bank’s improved net interest income outlook, supported by stronger than expected deposit balances and a more favorable rates trajectory versus the start of the year, for the upgrade. Northern Trust also has capital return and share count reduction capacity from the expected monetization of its Visa position, the analyst tells investors in a research note. BMO this morning upgraded Northern Trust to Outperform.
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Read More on NTRS:
- Northern Trust upgraded to Outperform from Market Perform at BMO Capital
- Northern Trust: Leveraging ‘One Northern Trust,’ Capital Strength, and Visa Monetization to Drive EPS Growth and Justify a Premium Valuation
- Northern Trust price target lowered to $155 from $160 at Truist
- Northern Trust price target lowered to $149 from $167 at Morgan Stanley
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