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Investing.com - TD Cowen has raised its price target on State Street (NYSE:STT) to $135.00 from $133.00 while maintaining a Buy rating on the stock. The stock, currently trading at $116.77, sits near its 52-week high of $118.24, having delivered an impressive 40% return over the past six months. According to InvestingPro data, analysts maintain a moderate buy consensus with price targets ranging from $102 to $165.
The price target increase follows State Street’s third-quarter 2025 earnings per share of $2.78, which exceeded TD Cowen’s forecast of $2.57 and the Street consensus of $2.64.
The financial services firm reported broad strength across its business lines, including servicing fees, management fees, and foreign exchange trading revenue.
Assets under custody/administration (AUC/A) and assets under management (AUM) both reached record levels, driven by continued market appreciation and exchange-traded fund (ETF) flows.
TD Cowen noted that State Street remains well-positioned to benefit from the current market environment as the trust bank with the most exposure to equities.
In other recent news, State Street Corporation reported its third-quarter 2025 earnings, surpassing Wall Street expectations. The company achieved an earnings per share (EPS) of $2.78, exceeding the projected $2.63. Revenue also came in stronger than anticipated, reaching $3.55 billion compared to the forecasted $3.46 billion. Despite these positive results, the company’s stock saw a decline in pre-market trading. Additionally, Keefe, Bruyette & Woods raised its price target for State Street to $135 from $132, maintaining an Outperform rating. This adjustment was attributed to a strong revenue performance, with fees exceeding expectations by $0.21, largely due to foreign exchange trading. These developments provide investors with crucial insights into State Street’s financial health and market position.
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