J.P. Morgan Thinks BNY Mellon’s Stock is Going to Recover

In a report issued on April 7, Vivek Juneja from J.P. Morgan maintained a Buy rating on BNY Mellon (BKResearch Report), with a price target of $59.00. The company’s shares closed last Friday at $48.34, close to its 52-week low of $45.80.

According to TipRanks.com, Juneja is a 5-star analyst with an average return of 17.0% and a 59.7% success rate. Juneja covers the Financial sector, focusing on stocks such as Fifth Third Bancorp, Citizens Financial, and Regions Financial.

Currently, the analyst consensus on BNY Mellon is a Moderate Buy with an average price target of $62.79, which is a 30.9% upside from current levels. In a report issued on April 7, Deutsche Bank also maintained a Buy rating on the stock with a $62.00 price target.

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Based on BNY Mellon’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.94 billion and net profit of $863 million. In comparison, last year the company earned revenue of $3.77 billion and had a net profit of $750 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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