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Goldman Sachs Upgrades Northern Trust to “Buy” (NTRS)

By Dividend.com,  July 09, 2012, 09:11:07 AM EDT

Custodial banking giant Northern Trust Corporation ( NTRS ) on Monday caught a big upgrade from analysts at Goldman Sachs.

The firm said it boosted its rating on NTRS from "Neutral" to "Buy" with a $53 price target, suggesting a 14% upside to the stock's Friday closing price of $46.49. Goldman also raised its estimates for the company, citing stabilizing revenue and hopes for further margin expansion.

Northern Trust shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Northern Trust ( NTRS ) have a 2.58% dividend yield, based on Friday's closing stock price of $46.49. The stock has technical support in the $42-$43 price area. If the shares can firm up, we see overhead resistance around the $48-$50 price levels.

Northern Trust Corporation ( NTRS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 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 The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: NTRS



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