Argus raised the firm’s price target on State Street (STT) to $115 from $100 and keeps a Buy rating on the shares. The analyst cites the company’s Q4 earnings beat while noting that its assets under custody wins of $1.1T in Q4 accelerated sharply from $466B in 3Q, continuing to show a strong competitive offering. Argus adds that the current valuation provides a favorable entry point for the “high-quality” stock.
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