State StreetState Street of Boston on Friday reported second-quarter net income available to common shareholders of $571 million, or $1.24 a share, increasing from $455 million, or 98 cents a share, in the first quarter, and $480 million, or 98 cents a share, during the second quarter of 2012. The custody bank's second-quarter operating revenue totaled $2.580 billion, increasing from $2.470 billion the previous quarter and $2.459 billion a year earlier. Please see TheStreet's earnings coverage for full details of State Street's operating results. Jefferies Analyst Ken Usdin rates State Street a "buy," with a $74 price target, and on Monday raised his 2014 earnings estimate for the company by a nickel to $5.30, "given a better expense trajectory, which more than offsets a lower-than-modeled base for servicing fees." "Near-term, we see 3Q EPS holding-in around ~$1.20/share, as core business growth and efficiency initiative benefits are offset by seasonal declines in
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