Northern Trust’s Target, Estimates Cut at Citigroup; “Buy” Rating Maintained (NTRS)

By Staff,

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Investment manager Northern Trust Corporation ( NTRS ) on Tuesday saw its price target and earnings estimates lowered on Tuesday by analysts at Citigroup.

The firm said it now expected shares of NTRS to reach $58. That new target implies a 15% upside to the stock's Monday closing price of $50.59.

Citigroup also cut its earnings estimates for the company, citing a flatter yield curve model, but still maintained its "Buy" rating.

Northern Trust shares were mostly flat in premarket trading Tuesday.

The Bottom Line
Shares of Northern Trust ( NTRS ) have a 2.21% dividend yield, based on last night's closing stock price of $50.59. The stock has technical support in the $46 price area. If the shares can firm up, we see overhead resistance around the $52-$54 price levels.

Northern Trust Corporation ( NTRS ) is not recommended at this time, holding a 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 Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: NTRS

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