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STT

State Street

$55.10

-2.12 (-3.71%)

08:58
06/12/19
06/12
08:58
06/12/19
08:58

State Street price target lowered to $67 from $83 at Buckingham

Buckingham analyst James Mitchell lowered his price target for State Street to $67 from $83, saying that while weak activity levels and a selloff in higher margin EM markets are "somewhat understandable" drags on fee income guidance, the material guide down in NII was "quite disappointing," even in the context of a flattening curve. Mitchell maintains a Buy rating, but tells investors that he sees the stock as range-bound until we and investors get more comfort on EPS revisions bottoming.

STT State Street
$55.10

-2.12 (-3.71%)

03/14/19
DBAB
03/14/19
DOWNGRADE
DBAB
Hold
State Street downgraded to Hold from Buy at Deutsche Bank
03/14/19
DBAB
03/14/19
DOWNGRADE
Target $70
DBAB
Hold
State Street downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Brian Bedell downgraded State Street to Hold and lowered his price target to $70 from $84, saying he no longer sees any near- or intermediate-term positive catalysts for the stock given the likely continued revenue growth pressures this year. The analyst cites "flat-to-negative average market levels, pricing pressure in asset servicing, weak volumes in FX trading / securities lending, outflows in active products, and stable net interest revenue with mild net interest margin expansion offsetting slightly lower deposit levels." Bedell also believes that State Street shares will trade in a range near current levels for the balance of the year.
03/15/19
03/15/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Oracle (ORCL) downgraded to Market Perform from Outperform at BMO Capital with analyst Keith Bachman saying he believes Oracle can sustain ~2% constant currency revenue growth, but is "dubious" the company can improve its revenue growth rates. 2. Zillow (ZG, Z) downgraded to Underweight from Equal Weight at Barclays with analyst Deepak Mathivanan citing his expectations for a "material erosion" in unit economics in its Homes division, the operational challenges facing the company in buying, fixing up, and selling homes at scale and the fact that he thinks the company's efforts to slowly transition its core PA business closer to transaction will keep revenue growth muted in the near-term. 3. State Street (STT) downgraded to Hold from Buy at Deutsche Bank with analyst Brian Bedell saying he no longer sees any near- or intermediate-term positive catalysts for the stock given the likely continued revenue growth pressures this year. 4. Live Nation (LYV) downgraded to Neutral from Buy at Citi with analyst Jason Bazinet saying he continues to like Live Nation's business model and long-term growth prospects, but he views the valuation as "full" at current share levels. 5. Adobe (ADBE) downgraded to Sector Weight from Overweight at KeyBanc with analyst Brent Bracelin citing the company's fiscal Q1 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/12/19
WELS
06/12/19
NO CHANGE
Target $63
WELS
Market Perform
State Street price target lowered to $63 from $75 at Wells Fargo
Wells Fargo analyst Mike Mayo lowered his price target for State Street to $63 from $75 after the company revealed that this decade's tech transformation failed to achieve the desired result, and that NII should decline by 8% in Q2 and revenues should be weaker due to the flattening yield curve, less f/x, and continued pressure on asset servicing. The analyst reiterates a Market Perform rating on the shares.

TODAY'S FREE FLY STORIES

K

Kellogg

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0.13 (0.23%)

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KRYS

Krystal Biotech

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11.87 (40.54%)

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FDS

FactSet

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-4.89 (-1.64%)

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Lennar

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0.09 (0.18%)

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GNFT

Genfit

$20.19

-0.02 (-0.10%)

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Genfit

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-0.02 (-0.10%)

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Gamida Cell

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CGC

Canopy Growth

$40.51

0.31 (0.77%)

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Canopy Growth CEO says done buying other producers, Reuters says »

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AWK

American Water

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0.4 (0.34%)

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Illinois American Water investing over $1.8M in Farmington Water System »

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LMT

Lockheed Martin

$359.98

0.555 (0.15%)

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U.K.'s new F35 stealth aircraft used on operations, Telegraph says »

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GILD

Gilead

$68.86

-0.53 (-0.76%)

19:01
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Gilead, Carna Biosciences announce research and development collaboration »

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BA

Boeing

$374.10

2.14 (0.58%)

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Boeing CEO approves quarterly dividend »

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  • 09

    Jul

GOOG

Alphabet

$1,115.75

-6.63 (-0.59%)

, GOOGL

Alphabet Class A

$1,117.00

-8.17 (-0.73%)

18:09
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Periodicals
Google tells workers Pride protests are against code of conduct, Verge says »

According to internal…

GOOG

Alphabet

$1,115.75

-6.63 (-0.59%)

GOOGL

Alphabet Class A

$1,117.00

-8.17 (-0.73%)

03/08/13
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AAPL

Apple

$198.60

-0.17 (-0.09%)

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Apple to add 2,000 employees in Seattle over next 5 years »

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WMT

Walmart

$111.25

0.08 (0.07%)

, FB

Facebook

$192.56

1.4 (0.73%)

17:51
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Periodicals
Walmart in Mexico rolls out grocery delivery via WhatsApp, Reuters says »

Walmart's (WMT)…

WMT

Walmart

$111.25

0.08 (0.07%)

FB

Facebook

$192.56

1.4 (0.73%)

03/08/13
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  • 10

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CAT

Caterpillar

$134.37

0.43 (0.32%)

17:46
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Caterpillar awarded share of $900M Defense Logistics Agency contract »

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FBK

FB Financial

$35.14

0.06 (0.17%)

17:45
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FLR

Fluor

$31.11

-0.99 (-3.08%)

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ERYP

Erytech Pharma

$6.69

(0.00%)

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LMT

Lockheed Martin

$359.98

0.555 (0.15%)

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MDCO

The Medicines Co.

$35.38

-1.01 (-2.78%)

17:30
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The Medicines Co. files to sell $150M of common stock »

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MHTLY

Metcash

$0.00

(0.00%)

17:30
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17:30
Downgrade
Metcash rating change at Goldman Sachs »

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MKTX

MarketAxess

$332.76

-0.24 (-0.07%)

, LLL

L3 Technologies

$256.30

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MKTX

MarketAxess

$332.76

-0.24 (-0.07%)

LLL

L3 Technologies

$256.30

(0.00%)

AAXN

Axon

$73.22

-0.12 (-0.16%)

MLAB

Mesa Labs

$227.44

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HRS

Harris

$197.28

-0.07 (-0.04%)

USNA

Usana

$72.41

-0.58 (-0.79%)

LION

Fidelity Southern

$30.18

-0.06 (-0.20%)

ABCB

Ameris Bancorp

$37.76

(0.00%)

XNCR

Xencor

$33.86

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HF

HFF Inc.

$45.25

-0.29 (-0.64%)

JLL

Jones Lang LaSalle

$137.43

-2.075 (-1.49%)

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TMSR

TMSR Holding

$1.67

(0.00%)

17:28
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Breaking Syndicate news story on TMSR Holding »

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MDCO

The Medicines Co.

$35.38

-1.01 (-2.78%)

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XNCR

Xencor

$33.86

-1.31 (-3.72%)

, HF

HFF Inc.

$45.25

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XNCR

Xencor

$33.86

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HF

HFF Inc.

$45.25

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JLL

Jones Lang LaSalle

$137.43

-2.075 (-1.49%)

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USNA

Usana

$72.41

-0.58 (-0.79%)

, LION

Fidelity Southern

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-0.06 (-0.20%)

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Fidelity Southern

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ABCB

Ameris Bancorp

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(0.00%)

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MLAB

Mesa Labs

$227.44

-3.4 (-1.47%)

, AAXN

Axon

$73.22

-0.12 (-0.16%)

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MLAB

Mesa Labs

$227.44

-3.4 (-1.47%)

AAXN

Axon

$73.22

-0.12 (-0.16%)

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