Morgan Stanley Downgrades Northern Trust to Underweight, Raises Price Target to $86
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Betsy Graseck has downgraded Northern Trust (NTRS) from Equal-Weight to Underweight while increasing the price target from $82 to $86.
January 30, 2024 | 12:59 pm
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Northern Trust was downgraded by Morgan Stanley from Equal-Weight to Underweight, although the price target was raised from $82 to $86.
The downgrade to Underweight suggests that Morgan Stanley believes Northern Trust will underperform the market or its sector, which could lead to a negative short-term impact on the stock price. However, the increase in the price target indicates a belief that the stock still has potential to grow in value, albeit at a slower pace than its peers. This mixed signal might cause some uncertainty among investors, potentially leading to short-term volatility in the stock's price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100