RBC Capital lowered the firm’s price target on Northern Trust to $87 from $95 and keeps an Outperform rating on the shares. The analyst states that the "excessive" tightening by the Federal Reserve, resulting in a "deep recession" in 2023, poses a key risk for the bank as it would bring on elevated levels of credit losses and depress earnings.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on NTRS:
- Northern Trust raises prime lending rate to 8%
- National Association for Business Economics to hold a webinar
- Buy Oversold Bank Stocks with These ETFs
- Northern Trust selectes by SSRCE, TCRCE for custody, benefit payment services
- Northern Trust, EDS announce new deal with UK-based asset manager Redwheel