Wells Fargo has revised its price target for Northern Trust (NTRS, Financial), lowering it from $118 to $111 while maintaining an Equal Weight rating on the company's shares. The decision follows Northern Trust's recent performance, where despite surpassing expectations in net interest income and managing expenses efficiently, the firm's fee growth remained lackluster.
The reduced growth in fees, coupled with potential challenges posed by declining market conditions, has prompted Wells Fargo to adjust its projections and price target for the company. According to the firm, Northern Trust's growth pace is situated at the lower end among trust banks, providing less justification for a higher valuation premium.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 13 analysts, the average target price for Northern Trust Corp (NTRS, Financial) is $103.54 with a high estimate of $128.00 and a low estimate of $81.00. The average target implies an upside of 15.87% from the current price of $89.36. More detailed estimate data can be found on the Northern Trust Corp (NTRS) Forecast page.
Based on the consensus recommendation from 16 brokerage firms, Northern Trust Corp's (NTRS, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" 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 Northern Trust Corp (NTRS, Financial) in one year is $105.81, suggesting a upside of 18.41% from the current price of $89.36. 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 Northern Trust Corp (NTRS) Summary page.
