BNY Mellon price target raised to $65 from $63 at Morgan Stanley

Morgan Stanley analyst Betsy Graseck raised the firm’s price target on BNY Mellon to $65 from $63 and keeps an Equal Weight rating on the shares. The stock rallied 5% on Friday after EPS came in 4c above the firm’s Street-high estimate, notes the analyst, who is raising the firm’s 2024 EPS estimate by 12c, or 2%, to $5.72 and its 2025 EPS view by 18c, or 3%, to $6.52 following the report.