Goldman Sachs Reaffirms Their Buy Rating on State Street (STT)
In a report released yesterday, Alexander Blostein from Goldman Sachs maintained a Buy rating on State Street, with a price target of $152.00.
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According to TipRanks, Blostein is a 5-star analyst with an average return of 16.3% and a 68.10% success rate. Blostein covers the Financial sector, focusing on stocks such as Invesco, Nasdaq, and Virtu Financial.
In addition to Goldman Sachs, State Street also received a Buy from TipRanks – Google’s Google Asset Management in a report issued on April 1. However, yesterday, Bank of America Securities upgraded State Street (NYSE: STT) to a Hold.
Based on State Street’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.59 billion and a net profit of $747 million. In comparison, last year the company earned a revenue of $5.67 billion and had a net profit of $783 million
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STT in relation to earlier this year. Last month, JOHN PLANSKY, the EVP of STT sold 16,100.00 shares for a total of $2,001,552.00.
Read More on STT:
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- State Street upgraded to Neutral from Underperform at BofA
- State Street Names New Global Controller and CAO
- State Street price target lowered to $155 from $172 at Morgan Stanley
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