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BNY Mellon (BK) Gets a Buy Rating from Barclays

In a report issued on December 31, Jason Goldberg from Barclays maintained a Buy rating on BNY Mellon (BKResearch Report), with a price target of $74.00. The company’s shares closed last Tuesday at $60.60.

According to TipRanks.com, Goldberg is a 5-star analyst with an average return of 13.2% and a 61.2% success rate. Goldberg covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Capital One Financial, and Huntington Bancshares.

BNY Mellon has an analyst consensus of Moderate Buy, with a price target consensus of $65.18, representing a 9.8% upside. In a report issued on December 16, J.P. Morgan also upgraded the stock to Buy with a $67.00 price target.

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Based on BNY Mellon’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.96 billion and net profit of $947 million. In comparison, last year the company earned revenue of $3.76 billion and had a net profit of $937 million.

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The Bank of New York Mellon Corp. is a bank holding company, which provides a range of financial services. It was formed from the merger of The Bank of New York and the Mellon Financial Corporation in 2007. It operates through two segments: Investment Services and Investment Management.

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