Jefferies Lowers NTRS PT To $58, Lowers Estimates

Jefferies is lowering its estimates and cutting its PT to $58 from $61 on shares of Northern Trust NTRS. “We have cut EPS estimates to $2.95 from $3.20 in 2011 and to $3.60 from $3.80 in 2012 following disappointing 4Q results,” Jefferies writes. “The 4Q result ($0.64) is 21% below the $0.82 run-rate implied by 2011 consensus, which leaves the stock vulnerable to negative EPS revisions.” Northern Trust closed Wednesday at $52.49.