Goldman Meets With NTRS Management

Northern Trust Corporation NTRS had an investor visit with Goldman Sachs and the key takeaways were that capital for NTRS was solid and building, reporting Tier 1 common of 13.2%, M&A on the horizon in new geographical locations and new products, and buybacks are seen in NTRS's future, according to Goldman. Business pipelines are robust, Goldman reports, and NTRS is benefiting from globalization and increasing wealth of client needs for outsourcing, middle office, etc. due to sharper focus on cost efficiency and higher standards in the investment community. Goldman maintains its Buy rating and $57 price target. Northern Trust Corporation closed Friday at $47.70.