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State Street (STT) Receives a Rating Update from a Top Analyst

RBC Capital analyst Gerard Cassidy maintained a Hold rating on State Street (STTResearch Report) on September 12 and set a price target of $80.00. The company’s shares closed yesterday at $71.40.

According to TipRanks, Cassidy is a top 100 analyst with an average return of 21.4% and a 66.92% success rate. Cassidy covers the Financial sector, focusing on stocks such as Morgan Stanley, Bank of America, and Bank of New York Mellon Corporation.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for State Street with a $79.45 average price target.

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Based on State Street’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.71 billion and a net profit of $747 million. In comparison, last year the company earned a revenue of $2.71 billion and had a net profit of $763 million

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State Street Corporation is a financial services and bank holding company. It provides a range of financial products and services to institutional investors worldwide including deposits, loans and lease financing, securities finance, trading services, portfolio modeling and construction, and wealth management solutions.

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