Keefe, Bruyette & Woods Raises NTRS PT To $52

Keefe, Bruyette & Woods has issued a report raising the Price Target on Northern Trust NTRS to $52 a share. According to the report, "2Q was characterized by stronger than expected top-line growth and healthy new business trends, but the improvement in top-line was generally offset by higher expenses. We attribute the better earnings to a lower than forecast loan loss provision." NTRS has a Market Perform Rating and closed at $44.19 a share yesterday.