Morgan Stanley raised the firm’s price target on State Street to $91 from $85 and keeps an Equal Weight rating on the shares. Key indicators for trust bank trends did not change course in June as trends through May continued through quarter-end, says the analyst, who now expects AUM/AUC levels to end Q2 at up 1%-4% quarter-over-quarter, up from prior estimates of flat to up 1.5% sequentially.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on STT:
- State Street to maintain stress capital buffer at 2.5%, to hike dividend 10%
- XHB: This Homebuilder ETF is Quietly Surging. Can It Continue?
- Before the Move: Watch Wells Fargo, Citi into 2023 stress test results
- State Street sees Q2 expenses up 1%-2% q/q vs. prior guidance of flat
- State Street sees Q2 total fee revenues up 4%-4.5% on q/q basis