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State Street Corporation Message Board

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  • joe_mil1 joe_mil1 Oct 22, 2008 5:37 PM Flag

    Moody's Last Week: STT is A-OK!

    S&P MAINTAINS HOLD OPINION ON SHARES OF STATE STREET
    Monday 10/20/2008 9:56 PM ET - Standard & Poor's Research Notes
    We are lowering our '09 EPS estimate by $0.45 to $4.83 in order to reflect our projection of lower fee growth than we previously expected. We think that STT's securities finance and trading fees will come under pressure in today's more difficult economic environment. We also are wary of rising unrealized losses in STT's securities portfolio, and the possibility that STT may be forced to move its $25.5B conduit facility onto its balance sheet, which would pressure capital levels. We are lowering our target price by $15 to $50, a below-historical 10.4X our '09 EPS estimate.

 
STT
54.42-0.69(-1.25%)Feb 5 4:02 PMEST