Goldman Sachs upgraded Northern Trust to Neutral from Sell with a price target of $151, up from $148, implying 7% upside at current levels. The firm cites the bank's improved net interest income outlook, supported by stronger than expected deposit balances and a more favorable rates trajectory versus the start of the year, for the upgrade. Northern Trust also has capital return and share count reduction capacity from the expected monetization of its Visa position, the analyst tells investors in a research note. BMO this morning upgraded Northern Trust to Outperform.
