RBC Capital raised the firm’s price target on Northern Trust to $90 from $86 and keeps an Outperform rating on the shares. The company’s Q2 results were “solid” despite the “stubborn” expense issues that continue to weigh on its performance, the analyst tells investors in a research note. Northern Trust management will work diligently to bring down expense growth, but it will likely be challenging and could take some time, RBC added.
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