The company, addressing the challenges posed by current market instability, reaffirmed its target to secure between $350 million and $400 million in new servicing fees within this year. This declaration comes as part of the firm's strategic emphasis on expense management during uncertain times.
During the Q1 earnings conference call, executives highlighted their commitment to maintaining fiscal discipline despite the significant market fluctuations. The organization's focus remains on optimizing operations and controlling costs effectively to navigate the volatile economic environment.
Additionally, the company provided an update on its ongoing search for a permanent Chief Financial Officer (CFO). The selection process is reportedly well advanced, with an announcement expected soon regarding the appointment.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 13 analysts, the average target price for State Street Corp (STT, Financial) is $105.38 with a high estimate of $127.00 and a low estimate of $78.00. The average target implies an upside of 32.07% from the current price of $79.80. More detailed estimate data can be found on the State Street Corp (STT) Forecast page.
Based on the consensus recommendation from 17 brokerage firms, State Street Corp's (STT, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for State Street Corp (STT, Financial) in one year is $98.03, suggesting a upside of 22.85% from the current price of $79.795. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the State Street Corp (STT) Summary page.
