These Analysts Increase Their Forecasts On State Street After Better-Than-Expected Q1 Earnings

Benzinga04-20

State Street Corp. (NYSE:STT) on Friday reported stronger-than-expected first-quarter results.

The company posted adjusted earnings of $2.84 per share, topping analysts' estimates of $2.63. Revenue increased 16% year over year to $3.796 billion, exceeding the Street's expectation of $3.658 billion.

CEO Ron O'Hanley said, "We delivered record quarterly fee revenue, net interest income, and total revenue, generating meaningful year-over-year positive operating leverage and pretax margin expansion, excluding notable items. In a dynamic operating environment, the momentum across Investment Services, Investment Management, and Markets underscores the strength of our franchise."

State Street shares rose 2.4% to trade at $149.04 on Monday.

These analysts made changes to their price targets on State Street following earnings announcement.

Truist Securities analyst David Smith maintained State Street with a Hold and raised the price target from $136 to $150.
Keefe, Bruyette & Woods analyst David Konrad maintained the stock with an Outperform rating and raised the price target from $157 to $175.
RBC Capital analyst Gerard Cassidy maintained State Street with a Sector Perform and raised the price target from $135 to $155.
Morgan Stanley analyst Betsy Graseck maintained the stock with an Overweight rating and boosted the price target from $155 to $166.

Considering buying STT stock? Here’s what analysts think:

Photo via Shutterstock

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Revenue increased 16% year over year to $3.796 billion, exceeding the Street's expectation of $3.658 billion.</p>\n<p>CEO Ron O'Hanley said, \"We delivered record quarterly fee revenue, net interest income, and total revenue, generating meaningful year-over-year positive operating leverage and pretax margin expansion, excluding notable items. In a dynamic operating environment, the momentum across Investment Services, Investment Management, and Markets underscores the strength of our franchise.\"</p>\n<p>State Street shares rose 2.4% to trade at $149.04 on Monday.</p>\n<p>These analysts made changes to their price targets on State Street following earnings announcement.</p>\n<ul>\n<li>Truist Securities analyst David Smith maintained State Street with a Hold and raised the price target from $136 to $150.</li>\n<li>Keefe, Bruyette &amp; Woods analyst David Konrad maintained the stock with an Outperform rating and raised the price target from $157 to $175.</li>\n<li>RBC Capital analyst Gerard Cassidy maintained State Street with a Sector Perform and raised the price target from $135 to $155.</li>\n<li>Morgan Stanley analyst Betsy Graseck maintained the stock with an Overweight rating and boosted the price target from $155 to $166.</li>\n</ul>\n<p><strong>Considering buying STT stock? 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Revenue increased 16% year over year to $3.796 billion, exceeding the Street's expectation of $3.658 billion.</p>\n<p>CEO Ron O'Hanley said, \"We delivered record quarterly fee revenue, net interest income, and total revenue, generating meaningful year-over-year positive operating leverage and pretax margin expansion, excluding notable items. In a dynamic operating environment, the momentum across Investment Services, Investment Management, and Markets underscores the strength of our franchise.\"</p>\n<p>State Street shares rose 2.4% to trade at $149.04 on Monday.</p>\n<p>These analysts made changes to their price targets on State Street following earnings announcement.</p>\n<ul>\n<li>Truist Securities analyst David Smith maintained State Street with a Hold and raised the price target from $136 to $150.</li>\n<li>Keefe, Bruyette &amp; Woods analyst David Konrad maintained the stock with an Outperform rating and raised the price target from $157 to $175.</li>\n<li>RBC Capital analyst Gerard Cassidy maintained State Street with a Sector Perform and raised the price target from $135 to $155.</li>\n<li>Morgan Stanley analyst Betsy Graseck maintained the stock with an Overweight rating and boosted the price target from $155 to $166.</li>\n</ul>\n<p><strong>Considering buying STT stock? 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(NYSE:STT) reports strong Q1 results, beating earnings and revenue expectations. Analysts raise price targets for STT stock.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"STT":"道富银行"},"translate_title":"在第一季度盈利好于预期后，这些分析师上调了对道富银行的预测","themeId":"11c8fbbf839f433c9d274cef5f173382","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"STT":1.5},"content_text":"State Street Corp. (NYSE:STT) on Friday reported stronger-than-expected first-quarter results.\nThe company posted adjusted earnings of $2.84 per share, topping analysts' estimates of $2.63. Revenue increased 16% year over year to $3.796 billion, exceeding the Street's expectation of $3.658 billion.\nCEO Ron O'Hanley said, \"We delivered record quarterly fee revenue, net interest income, and total revenue, generating meaningful year-over-year positive operating leverage and pretax margin expansion, excluding notable items. In a dynamic operating environment, the momentum across Investment Services, Investment Management, and Markets underscores the strength of our franchise.\"\nState Street shares rose 2.4% to trade at $149.04 on Monday.\nThese analysts made changes to their price targets on State Street following earnings announcement.\n\nTruist Securities analyst David Smith maintained State Street with a Hold and raised the price target from $136 to $150.\nKeefe, Bruyette & Woods analyst David Konrad maintained the stock with an Outperform rating and raised the price target from $157 to $175.\nRBC Capital analyst Gerard Cassidy maintained State Street with a Sector Perform and raised the price target from $135 to $155.\nMorgan Stanley analyst Betsy Graseck maintained the stock with an Overweight rating and boosted the price target from $155 to $166.\n\nConsidering buying STT stock? 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