Guggenheim Downgrades State Street to “Neutral” on a Valuation Call (STT)

Guggenheim Partners on Tuesday downgraded financial services company, State Street Corporation (STT).

The firm lowered their rating for STT from a “Buy” to “Neutral,” and gave the stock a $63 price target. This price target suggests a 10% increase from the stock’s current price of $56.28.

Analysts have downgraded the company based on a valuation call, since the stock has seen a 32% gain since mid-October.

State Street shares were up 32 cents, or 0.59% during Tuesday morning trading. The stock has increased 32% in the past year.

The Bottom Line
Shares of STT currently offer a 1.71% dividend yield, based on Tuesday morning’s price of $56.12 and the company’s annualized dividend payout of 96 cents per share.

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.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here