State Street Corp

STT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	LOCK\|$>	LOCK\|$K^	LOCK\|nb%!TQ

State Street Earnings: Decent Finish to 2024 With 2025 Outlook Generally OK

Rajiv Bhatia

Jan 17, 2025

State Street reported a decent finish to 2024. However, the stock had a strong run during the last six months of the year, and we believe investor expectations may have been elevated as a result. Relative to our model, the firm's fee revenue outlook for 2025 came in more favorably than our expectations, while the company's net interest income outlook was a bit soft. As we incorporate these results, we expect to maintain our wide moat rating and $84 per share fair value estimate. We regard shares as modestly overvalued right now.

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State Street Corp

State Street Earnings: Decent Finish to 2024 With 2025 Outlook Generally OK

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