Ahead of Earnings, State Street Corp. is 'Top Pick': Citi (STT)

Ahead of its 2Q earnings announcement, Citi reiterated its "Top Pick" status on State Street Corporation STT this morning. Citi analysts believe State Street "will report sequential improvement in core earnings." State Street Corporation is a financial holding company. Citi maintains a Buy recommendation on shares of State Street. Citi notes that while it "believe[s] the eventual increase in interest rates will be a positive catalyst for [State Street], and the the stock will likely rally two to three quarters before the increases begin as history indicates, there will likely be other catalysts that may/will precede rising rate expectations." Shares of State Street closed nearly 2% lower on Wednesday. The company is expected to release 2Q results on July 20.