State Street price target raised to $168 from $140 at Argus

Argus raised the firm’s price target on State Street (STT) to $168 from $140 and keeps a Buy rating on the shares after its Q1 earnings beat and raised guidance for fee revenue growth in 2026. State Street should benefit from several long-term earnings drivers, including outsourcing of back-office operations as asset managers are facing cost pressures, the analyst tells investors in a research note, adding that State Street Alpha, provides an integrated software solution allowing front and back offices to facilitate operations and communications on a single platform.