Investment manager Northern Trust Corporation (
) saw its rating cut on Monday by analysts at Bank of
The firm downgraded NTRS to "Neutral" from "Buy," noting that
recent earnings-per-share run-rates have appeared challenging. The
analyst also set a $59 price target on the stock, which had closed
at $54.98 on Friday.
Northern Trust shares fell 78 cents, or -1.4%, in premarket
The Bottom Line
We removed NTRS from our "recommended" list on Sept.29, 2008 when
the stock was trading at $79.90 a share. The company has a 2.04%
dividend yield, based on Friday's closing stock price of $54.98.
The stock has technical support in the $47-$48 price area. If the
shares can firm up, we see overhead resistance around the $58-$60
price levels. We would remain on the sidelines for now.
Northern Trust Corporation (
) 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
Created by Dividend.com