State Street Gets Price Target Cuts By Analysts After Weaker-Than-Expected Q1 Results

State Street Corporation STT reported worse-than-expected Q1 results.

State Street reported Q1 revenues of $3.10 billion, up 1% Y/Y, missing the consensus estimate of $3.12 billion. EPS of $1.52 missed the consensus estimate of $1.64.

State Street shares dropped 9.2% to close at $72.68 on Monday.

These analysts made changes to their price targets on State Street following earnings announcement.

• B of A Securities cut the price target on State Street from $84 to $80. B of A Securities analyst Ebrahim Poonawala maintained the stock with a Neutral.
• Wells Fargo slashed the price target on State Street from $97 to $90. Wells Fargo analyst Mike Mayo maintained an Overweight rating.

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