tiprankstipranks
The Fly

State Street upgraded to Peer Perform from Underperform at Wolfe Research

State Street upgraded to Peer Perform from Underperform at Wolfe Research

Wolfe Research upgraded State Street (STT) to Peer Perform from Underperform without a price target State Street has been among the biggest laggards among the universal and trust banks since the start of the Federal Reserve tightening cycle as higher deposit betas, weaker fee momentum, and stickier expenses have weighed on shares, the analyst tells investors in a research note. However, the firm says the bank has started to show better momentum and a commitment to delivering positive fee operating leverage. Wolfe believes the stock’s valuation screens as attractive.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

1