Northern Trust initiated with a Hold at Truist

Truist initiated coverage of Northern Trust (NTRS) with a Hold rating and $110 price target The firm says that when the company’s asset and revenue growth slowed in recent years, its costs stayed “stubbornly elevated” and seem likely to slow only gradually in the near term. Bending the cost curve at Northern will take time and expense growth versus peers will likely remain elevated for some time, the analyst tells investors in a research note.