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State Street Corp Gets a Hold Rating from Jefferies


Jefferies analyst Ken Usdin reiterated a Hold rating on State Street Corp (NYSE: STT) on July 9 and set a price target of $102. The company’s shares closed yesterday at $92.44, close to its 52-week low of $89.25.

According to TipRanks.com, Usdin is a top 25 analyst with an average return of 25.4% and a 84.8% success rate. Usdin covers the Financial sector, focusing on stocks such as Bank Of Hawaii Corp, Bank of America, and JP Morgan Chase.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for State Street Corp with a $109.33 average price target.

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Based on State Street Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.28 billion and net profit of $660 million. In comparison, last year the company earned revenue of $2.75 billion and had a net profit of $620 million.

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State Street Corp. operates as a financial holding company. It conducts business primarily through State Street Bank. The company operates through following business lines: Investment Servicing and Investment Management.