Morgan Stanley analyst Betsy Graseck maintains $State Street (STT.US)$ with a buy rating, and adjusts the target price from $139 to $132.
According to TipRanks data, the analyst has a success rate of 48.2% and a total average return of 3.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $State Street (STT.US)$'s main analysts recently are as follows:
The assessment reflects observations that with the S&P 500 dropping approximately 3% and a significant rise in the 10-year UST yield during the latter half of December, there is a forecasted reduction in client asset levels at trust banks. Additionally, the increase in the 10-year yield is expected to diminish the capital return outlook.
Equity markets experienced a roughly 2% decline in December attributed to a post-election reassessment largely driven by the delayed expectations of rate cuts. Furthermore, a decrease in activity within the investment banking sector persisted from November into December following a robust activity during September and October. Despite the December slowdown, there's an expectation for a bustling commencement to 2025. This is underpinned by the notion that improvement within the investment banking sector is anticipated, albeit pending timing rather than feasibility.
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