Thu Sep 26 13:21:01 UTC 2024: ## State Street Stock Price Target Raised by Goldman Sachs
**New York, NY (MarketBeat News) -** State Street Corporation (NYSE:STT) received a boost in its price target from analysts at The Goldman Sachs Group, who upped the target to $100.00 from $98.00. The move comes as part of a research note issued to investors on Thursday. Goldman Sachs maintains a “buy” rating on the asset manager’s stock, signaling potential upside of 12.99% from its current price.
This positive outlook follows a mixed bag of analyst ratings on State Street, with some raising their targets and others remaining more cautious. Keefe, Bruyette & Woods, for example, cut their price objective on the stock, while Citigroup and Barclays both raised theirs.
State Street recently reported strong second-quarter earnings, exceeding analysts’ expectations. The company achieved $2.15 in earnings per share and $3.19 billion in revenue, surpassing projected figures. This positive performance, coupled with Goldman Sachs’ bullish outlook, indicates confidence in the company’s future growth prospects.
Institutional investors continue to show interest in State Street, with several firms increasing their stake in the company during recent quarters. Hedge funds and other institutional investors currently hold 87.44% of the company’s stock.
State Street Corporation provides a wide range of financial products and services to institutional investors worldwide. These services include investment servicing, middle office solutions, securities finance, and investment management outsourcing, among others.
With its solid earnings performance, increasing institutional investment, and bullish analyst sentiment, State Street appears well-positioned for continued success.
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