JP Morgan Upgraded State Street to "Neutral" (STT)

JP Morgan Upgraded State Street to “Neutral” (STT)


On Tuesday analysts at JP Morgan upgraded financial services company State Street Corporation (STT) as its cost cutting strategy is offsetting a lower net interest margin.

The analysts upgraded STT to “Neutral” from “Underweight.”

State Street shares were up slightly during pre-market trading on Tuesday. The stock is up +28.58% over the past year.

The Bottom Line
Shares of State Street (STT) have a 1.80% dividend yield, based on Friday’s closing stock price of $53.36. The stock has technical support in the $48-$50 price area. If the shares can firm up, we see overhead resistance around the $55-$60 price levels.

State Street Corporation (STT) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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