BofA analyst Ebrahim Poonawala reinstated coverage of Northern Trust with a Buy rating and $90 price target. The firm sees a “compelling entry point” into what it calls “a hard to replicate wealth management franchise” and considers Northern Trust well positioned to navigate the cycle. The firm acknowledges the downside risks to EPS and ROE from deposit costs and equity and bond market volatility, but argues that these are reflected in the current valuation.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on NTRS:
- Northern Trust price target lowered to $75 from $79 at Evercore ISI
- Northern Trust price target lowered to $75 from $85 at RBC Capital
- Northern Trust price target lowered to $92 from $97 at Morgan Stanley
- Northern Trust price target lowered to $90 from $100 at Wells Fargo
- Northern Trust Stock (NASDAQ:NTRS) Down on Grim Q3 Outlook