Evercore ISI raised the firm’s price target on Northern Trust (NTRS) to $106 from $103 and keeps an In Line rating on the shares. Equity markets sold off by about 2% in December in “a post-post-election breather driven largely by the realization” that rate cuts might not be as imminent as thought, notes the analyst, who also points out that lower activity levels in investment banking continued into December from November after a “pretty strong” September and October. December cooled, but the firm expects an active start to 2025 as Evercore generally thinks improvement in investment banking is a “when, not if” story, the analyst added in a Q4 preview for the big banks group.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NTRS:
- Northern Trust decreases prime rate to 7.5%
- Northern Trust continues to struggle with expenses, says Wells Fargo
- Northern Trust: Goal for 2025 expenses to be up 5% ‘certainly attainable’
- Northern Trust upgraded to Equal Weight from Underweight at Morgan Stanley
- Northern Trust price target raised to $113 from $100 at Keefe Bruyette