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FINWIRES

Research Alert: CFRA Maintains Buy Rating On Shares Of State Street Corp.

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our target by $19 to $164, using a forward P/E of 13.3x our 2026 earnings estimate, compared to the three- and five-year historical averages of 13.5x and 13.0x, respectively. We think strong execution and low-teen Y/Y earnings growth are key drivers. We lift our 2026 EPS view by $0.65 to $12.35 and 2027's by $1.00 to $13.50 on projected revenue of $15.4B in 2026 and $15.7B in 2027. STT reported exceptional Q1 2026 results, demonstrating the strength of its diversified fee-based business model and disciplined execution. It realized return on equity of 11.6% and return on tangible common equity of 17.6%, vs 10.6% and 16.4% a year ago due to some one-time items. With book value at $87.33 and net tangible book value at $56.59, the current price multiples to these metrics are 1.7x and 2.6x, which we view as reasonable, provided we see earnings growth. STT shares currently trade at a 510-bp discount to the S&P 500, and capital returns were $400M in share buybacks and $233M in dividends in Q1 2026.

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