Evercore ISI analyst Glenn Schorr lowered the firm’s price target on Northern Trust to $86 from $88 and keeps an In Line rating on the shares. The firm has lowered estimates by an average of 9% across its U.S. brokers, banks and asset mangers coverage as it thinks lower investment banking fees, fewer PE-related gains, weaker asset and wealth management flows, a tough backdrop for deposits and lending, normalizing credit costs and less buybacks all worked to offset higher market levels and "hopefully OK trading."
Published first on TheFly
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