State Street Analysts Slash Their Forecasts After Q2 Results
Portfolio Pulse from Lisa Levin
State Street Corporation (NYSE:STT) reported Q2 revenues of $3.11 billion, up 5% Y/Y, missing the consensus estimate of $3.14 billion. EPS of $2.17 beat the consensus estimate of $2.10. Following the earnings announcement, analysts from Keefe, Bruyette & Woods, B of A Securities, JP Morgan, and UBS cut their price targets on State Street and downgraded the stock.
July 17, 2023 | 11:29 am
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NEGATIVE IMPACT
State Street's Q2 results led to a downgrade in stock ratings and a cut in price targets by several analysts. This could negatively impact the stock's short-term performance.
State Street's Q2 results missed revenue estimates, which led to a downgrade in stock ratings and a cut in price targets by several analysts. This negative sentiment could lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100