Mass. Movers

State Street offers promising guidance

State Street Corp. is based in Boston.
Bloomberg News/File 2009
State Street Corp. is based in Boston.

ISI Group analysts raised their price target for State Street Corp. after the financial services company gave positive guidance at its investor meeting, reported. The analysts are keeping a “buy” rating and forecast the stock will reach $64. The previous target was $63. Key factors, they said, include cost-cutting initiatives and their belief that the company is “improving upon a leadership position in asset servicing that should enhance its longer-term position.”