Northern Trust price target raised to $102 from $92 at Goldman Sachs

Goldman Sachs analyst Alexander Blostein raised the firm’s price target on Northern Trust (NTRS) to $102 from $92 but keeps a Sell rating on the shares after its Q4 earnings beat. The results reflect a higher interest rate outlook and favorable deposit trends benefiting net interest income, and the management’s commitment to positive fee operating leverage is also clearly encouraging, though the firm expects fee growth in the 5%-6% range for 2025, with a 5% net interest income growth still ultimately resulting in “fairly muted” margin expansion, the analyst tells investors in a research note.