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Fly News Breaks for January 7, 2020
STT
Jan 7, 2020 | 08:38 EDT
Jefferies analyst Kenneth Usdin upgraded State Street to Buy from Hold with a price target of $92, up from $68, noting that his $7.70 EPS estimate for FY21 is 6% above the Street consensus and he believes a "meaningful turn" in EPS estimate revisions is not yet fully captured in the stock. A sharp increase in equity markets in Q4 helps State Street and the 11% quarter-over-quarter increase in emerging markets equities should also prove favorable, added the analyst.
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