RBC Capital raised the firm’s price target on Northern Trust (NTRS) to $115 from $107 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company posted strong Q4 results with positive operating leverage, and its medium term strategic goals include 10%-15% ROE with a focus on achieving the higher end of that range, the analyst tells investors in a research note. Market conditions, particularly short-term interest rates, will likely continue to play a key role in determining profitability, though Northern Trust has a “strong pedigree” and should be able to navigate these choppy waters to deliver sustainable results, RBC added.
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