Morgan Stanley Reiterates EW on BK

By Anna Gerardi
July 19, 2011 8:48 AM

Symbols: BK

Posted in: Analyst Color, Reiteration, Analyst Ratings

Morgan Stanley has issued a report reiterating the Equal-Weight Rating on Bank of New York Mellon Corp (NYSE: BK).

According to Morgan Stanley, "BK posted 2Q11 operating EPS of $0.58, +2c above our in-line estimate. Strong volumes, but lighter profitability. PPOP missed by -5c due to negative operating leverage, offset by lower tax rate."

BK closed at $24.54 a share yesterday.

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Morgan Stanley Reiterates EW on BK

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