• Goldman Sachs raised the price target for Northern Trust Corporation (NASDAQ:NTRS) from $92 to $102, showing a more optimistic outlook.
• Northern Trust reported a significant increase in adjusted EPS to $2.26 for Q4 2024, surpassing estimates.
• The company's net income and revenue saw substantial year-over-year growth, with net income reaching $2.03 billion for the full year.

On January 23, 2025, Goldman Sachs maintained its "Sell" rating for Northern Trust Corporation (NASDAQ:NTRS), despite the stock being in a "hold" position. At the time, the stock price was $109.54. Interestingly, Goldman Sachs raised the price target from $92 to $102, indicating a more optimistic outlook than before.

Northern Trust's recent financial performance may have influenced this revised price target. During its Q4 2024 earnings call, the company reported an adjusted earnings per share (EPS) of $2.26, surpassing the Zacks Consensus Estimate of $2.02. This was a significant improvement from the previous year's EPS of 52 cents, showcasing the company's strong growth trajectory.

The company's net income for Q4 2024 was $455.4 million, a substantial increase from $113 million in the same quarter of the previous year. For the full year, Northern Trust reported a net income of $2.03 billion, reflecting an 83.4% year-over-year growth. This impressive performance was driven by a rise in net interest income and fee income, as well as an increase in total assets under custody and management.

Northern Trust's revenue for Q4 2024 was $1.96 billion, marking a 26.8% increase compared to the same quarter in the previous year. This revenue figure exceeded the Zacks Consensus Estimate of $1.93 billion, resulting in a positive surprise of 1.58%. The company's strong financial health and ability to outperform Wall Street expectations provide a clearer picture of its potential stock price performance.

Currently, Northern Trust's stock is priced at $109.54, with a market capitalization of approximately $21.71 billion. The stock has experienced a 2.002% increase today, with a trading range between $106.02 and $111.26. Over the past year, the stock has reached a high of $111.87 and a low of $76.67, indicating some volatility but also potential for growth.