Jefferies raised the firm’s price target on BNY Mellon to $71 from $68 and keeps a Buy rating on the shares. Higher equity markets in the first half and better-than-expected deposit commentary have built expectations for better revenue stability going into Q2 earnings, but weaker fixed income markets, continued fee rate pressure, and muted client activity can act as partial offsets, the analyst tells investors in a preview note for the trust banks.
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