Citi analyst Keith Horowitz lowered the firm’s price target on Northern Trust to $75 from $78 and keeps a Neutral rating on the shares. The analyst is updating the firm’s model to reflect the anticipated impact from the FDIC special assessment charge and lower net interest income based on its revised outlook for industry-wide deposit levels.
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Published first on TheFly
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- Northern Trust says cost of deposits ‘very, very high’ due to competition
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