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Fly News Breaks for December 16, 2019
NTRS
Dec 16, 2019 | 07:09 EDT
Citi analyst Keith Horowitz upgraded Northern Trust to Neutral from Sell with a price target of $110, up from $92. The analyst refined his valuation framework for the U.S. banks and his "base case" is now mid-single returns with 2% upside to consensus estimates. He's "playing for 'singles' and would not recommend reducing positions."