Credit Suisse Sees Northern Trust Shares Stalling at Current Levels (NTRS)

By Staff,

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Following the recent strength in the financial space, Credit Suisse is cutting its rating on Northern Trust ( NTRS ) to an underperform from neutral.

Credit Suisse stated "current estimates are 5-6% below consensus given a more tepid revenue outlook (Fed on hold until at least 2016, limited client re- risking) and more conservative capital return philosophy compared to other well-capitalized U.S. peers. Absent a material expansion in our EPS/return forecasts, we believe Northern's premium valuation will converge to peers."

The Bottom Line
Shares of Northern Trust ( NTRS ) have a 2.47% dividend yield, based on last night's closing stock price of $48.52. The stock has technical support in the $42-$44 price area. If the shares can firm up, we see overhead resistance around the $50-$52 price levels.

Northern Trust ( NTRS ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: NTRS

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