Goldman Sachs Maintains Neutral Rating and $22 PT on Bank of New York Mellon

A report from Goldman Sachs reiterates its Neutral rating and $22 price target on Bank of New York Mellon (NYSE: BK).

The report states, “Over the last three years, BK has not been able to break out from the mid-$0.50's quarterly EPS run rate despite 30%-plus growth in AUC/A. Low rates are clearly partially responsible for BK's lack of EPS growth."

BK closed yesterday at $20.72.