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Jefferies Thinks BNY Mellon’s Stock is Going to Recover

In a report issued on April 1, Ken Usdin from Jefferies maintained a Buy rating on BNY Mellon (BKResearch Report), with a price target of $57.00. The company’s shares closed last Thursday at $47.29, close to its 52-week low of $45.80.

According to TipRanks.com, Usdin is a top 100 analyst with an average return of 20.7% and a 66.7% success rate. Usdin covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Texas Capital Bancshares, and Huntington Bancshares.

BNY Mellon has an analyst consensus of Moderate Buy, with a price target consensus of $60.08, which is a 24.0% 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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