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Fly News Breaks for September 25, 2019
Sep 25, 2019 | 17:15 EDT
UBS downgraded Northern Trust to Neutral from Buy, citing valuation. The firm noted that while the company is well positioned and they like its business mix, the stock is currently trading at almost 15x the firm's 2020 estimate, which seems to fairly value Northern Trust's "high quality franchise."
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