State Street and QNB Group Launch New Custody Service Model in Qatar
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: seekingalpha
- Market Expansion Partnership: State Street and QNB Group signed a cooperation agreement in Davos to enhance their market position in the Gulf Cooperation Council through a new custody servicing model, reflecting both parties' commitment to the rapidly growing market.
- Asset Scale Advantage: State Street manages a total of $12.9 trillion in assets in the Middle East, while QNB has $65 billion in assets under custody, and their collaboration will leverage their respective scales and networks to enhance client service capabilities in the region.
- Economic Transformation Opportunities: State Street's CEO stated that this partnership will create significant synergies, enabling them to deliver enhanced solutions to regional clients and helping them capture opportunities driven by the economic transformation in the Gulf, further solidifying their market position.
- Long-term Strategic Commitment: With over three decades of service experience in the Middle East, State Street plans to continue investing to support clients in the Gulf, demonstrating its strong confidence in the region's economic growth potential.
Analyst Views on STT
Wall Street analysts forecast STT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for STT is 142.27 USD with a low forecast of 128.00 USD and a high forecast of 168.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
7 Buy
4 Hold
1 Sell
Moderate Buy
Current: 125.310
Low
128.00
Averages
142.27
High
168.00
Current: 125.310
Low
128.00
Averages
142.27
High
168.00
About STT
State Street Corporation is a financial holding company. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors. It operates through two lines of business: Investment Servicing and Investment Management. Its Investment Servicing line of business provides a range of services and market and financing solutions to institutional clients, including mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, investment managers, foundations and endowments worldwide. Through State Street Investment Services, State Street Markets and State Street Alpha, it offers a range of solutions, including transaction management, derivatives, collateral services, and others. Investment Management line of business provides a range of investment management solutions and products through State Street Investment Management.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
