Jefferies & Company, Inc. Initiates Coverage Of State Street Corporation (STT) With Hold Rating

Analysts Daniel T. Fannon and Todd Solomon at Jefferies & Company, Inc. have initiated coverage of State Street Corporation (NYSE: STT) with Hold rating. The price target for the company has been set at $42.

Analysts believe that State Street is a premium brand within financial services. However, some of the company’s businesses continue to remain under pressure. In the long-term, analysts believe that the company’s earnings power will be significantly higher.