Market Overview

UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Bank of New York Mellon Corporation

Share:
Related BK
10 Stocks To Watch For October 19, 2017
Earnings Scheduled For October 19, 2017

In a report published Monday, Jefferies & Company reiterated its Hold rating on Bank of New York Mellon Corporation (NYSE: BK), and raised its price target from $25.00 to $27.00.

Jefferies noted, “Revenues likely slipped Q-Q for the group given pressure on spread income, soft transaction fees, and the impact of low client activity on core fee lines. NTRS has the best chance to meet, given help from efficiencies, but we lower future EPS on a lower 4Q mark. BK and STT could post modest misses, with costs less of a helper. We are watching the early 1Q rally for signs of better client engagement, but remain neutral at this time.”

Bank of New York Mellon Corporation closed on Friday at $27.29.

Latest Ratings for BK

DateFirmActionFromTo
Oct 2017Morgan StanleyMaintainsEqual-Weight
Oct 2017CitigroupMaintainsNeutral
Oct 2017CitigroupMaintainsNeutral

View More Analyst Ratings for BK
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

Related Articles (BK)

View Comments and Join the Discussion!

Partner Center