Jefferies Reaffirms Their Hold Rating on State Street Corp

By Ryan Adsit

In a report released today, Ken Usdin from Jefferies reiterated a Hold rating on State Street Corp (NYSE: STT), with a price target of $87. The company’s shares closed last Friday at $88.25, close to its 52-week high of $89.61.

According to TipRanks.com, Usdin is a top 25 analyst with an average return of 19.4% and a 79.3% success rate. Usdin covers the Financial sector, focusing on stocks such as Government Properties Income Trust, Old National Bancorp Capital, and Discover Financial Services.

State Street Corp has an analyst consensus of Moderate Buy, with a price target consensus of $89.71.

The company has a one year high of $89.61 and a one year low of $50.60. Currently, State Street Corp has an average volume of 1.97M.

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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: Investment Servicing and Investment Management. The Investment Servicing offers custody, product and participant-level accounting, daily pricing and administration, master trust and master custody, record-keeping, cash management, foreign exchange, brokerage and other trading services, securities finance, deposit and short-term investment facilities, loans and lease financing, investment manager and alternative investment manager operations outsourcing, and performance, risk and compliance analytics. The Investment Management provides services through State Street Global Advisors, which provides a broad array of investment management, investment research and investment advisory services to corporations, public funds and other sophisticated investors. It offers strategies for managing financial assets, including passive and active, such as enhanced indexing, using quantitative and fundamental methods for both the U.S. and global equities and fixed-income securities. State Street was founded in 1969 and is headquartered in Boston, MA.