Jefferies Lifts Numbers on Northern Trust (NTRS)

Jefferies raised estimates and its price target Hold-rated Northern Trust (NASDAQ: NTRS) from $51 to $52.

The firm states, "We raise estimates following decent 2Q results, which included better-than-expected net interest income and strong momentum in core custody fees. At 13.5x our 2012 EPS estimate, stock is not expensive and we look forward to more details on efficiency initiatives, but need more clarity before getting more constructive."

Q3 EPS estimates go from $0.71 to $0.72, FY11 remains at $2.70 and FY12 goes from $3.20 to $3.25.

For more ratings news on Northern Trust click here and for the rating history of Northern Trust click here.

Shares of Northern Trust closed at $43.64 yesterday.

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