Barclays has adjusted its price target for State Street (STT, Financial), bringing it down from $127 to $120. Despite this revision, the financial institution maintains an Overweight rating on the stock. The decision comes after an analysis of the company's first quarter earnings, which surpassed expectations. However, the earnings were bolstered by lower than anticipated expenses, necessary to offset weaker than expected fees and net interest income.
The strategy reflects caution in response to the softer revenue streams, despite the underlying strength in the company's initial quarterly performance. Investors are advised to consider these factors when evaluating the stock's future potential.
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 $103.54 with a high estimate of $120.00 and a low estimate of $84.00. The average target implies an upside of 27.42% 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 $97.86, suggesting a upside of 20.43% 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.
