TD Cowen Maintains Buy Rating on Northern Trust (NTRS) After Strong Q4 Results

Group 1 - Northern Trust Corporation (NASDAQ:NTRS) is one of the largest publicly traded asset managers, with TD Cowen raising its price target to $175 from $165 while maintaining a Buy rating [1] - The company's fourth-quarter 2025 core EPS was reported at $2.62, surpassing market expectations due to increased pre-tax pre-provision income and lower provision expenditure, with total revenue reaching $2.14 billion against an expected $2.06 billion [1] - Northern Trust's fee businesses are gaining traction, and the company has demonstrated effective expenditure management, contributing to a favorable forecast for 2026 [2] Group 2 - Northern Trust has upgraded its medium-term pre-tax margin and return on equity (ROE) projections, indicating confidence in its long-term profitability [2] - The company operates through subsidiaries, including The Northern Trust Company, providing wealth management, asset servicing, asset management, and banking solutions to various clients [3]