Jefferies Thinks State Street Corp’s (STT) Stock is Going to Recover
In a report issued on July 1, Surinder Thind from Jefferies assigned a Buy rating to State Street Corp (NYSE:STT), with a price target of $64. The company’s shares closed last Friday at $53.84, close to its 52-week low of $50.10. The analyst maintained his Buy rating for the company after it announced intentions to increase its quarterly common stock dividend to $0.38 per share. The company also authorized a buy back of up to $1.4 billion of its common stock.
According to TipRanks.com, Thind is ranked 0 out of 5 stars with an average return of -10.0% and a 22.9% success rate. Thind covers the Financial sector, focusing on stocks such as Virtus Investment Partners, WisdomTree Investments, and Federated Investors.
State Street Corp has an analyst consensus of Moderate Buy, with a price target consensus of $65.50.