RBC Capital analysts lowered their estimates and price target on State Street Corporation (NYSE:STT) to reflect recent company guidance and their updated outlook for the company.

Full-year 2022 and 2023 EPS estimates moved to $7.69 and $9.50 from $8.15 and $10.35, respectively.

The company's fee revenue has been adversely impacted by the global market conditions more than offsetting the benefits of higher interest rates on its net interest income.

The analysts maintained their sector perform rating, but lowered their price target to $80 from $90.