Morgan Stanley raised the firm’s price target on State Street to $102 from $100 and keeps an Equal Weight rating on the shares. Following a beat and raise on both net interest income and fees and a third straight quarter of year-over-year positive total operating leverage, the firm raised its 2024 EPS by 5% to $8.59 its 2025 EPS forecast by 2% to $10.21, the analyst tells investors.
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Read More on STT:
- State Street price target raised to $106 from $98 at Wells Fargo
- State Street price target raised to $108 from $103 at Barclays
- State Street sees FY24 total fee revenue at or slighly above 4%-5% view
- State Street remains committed to more shareholder returns in Q4
- Morning Movers: Banks trending upward following quarterly results