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Fly News Breaks for December 9, 2019
STT
Dec 9, 2019 | 16:19 EDT
Keefe Bruyette analyst Brian Kleinhanzl upgraded State Street to Outperform from Market Perform with an $86 price target in conjunction with his 2020 Universal Bank outlook. Street has the potential to deliver above-peer average earnings growth the next two years, Kleinhanzl tells investors n a research note. He believes the historical premium valuation that State Street once traded at versus peers should return as the company delivers on earnings.
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