Goldman Sachs analyst Alexander Blostein has revised the price target for State Street (STT, Financial), reducing it from $100 to $98, while maintaining a Buy rating on the stock. This adjustment follows State Street's recent earnings report for the first quarter, where the company exceeded expectations.
The decision to lower the price target is influenced by a softer market environment affecting fee income and a reduced baseline for net interest income projected for the second quarter. Consequently, the firm's forecast for State Street's earnings per share (EPS) in fiscal year 2025 has been downgraded by 35 cents to $9.31.
Despite these adjustments, Goldman Sachs remains optimistic about State Street's management team, who continue to uphold their initial 2025 projections regarding revenues, expenses, and positive operating leverage.
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 29.69% from the current price of $81.26. 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 20.64% from the current price of $81.26. 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.
