BNY Mellon price target raised to $77 from $66 at Evercore ISI

Evercore ISI raised the firm’s price target on BNY Mellon to $77 from $66 and keeps an In Line rating on the shares. The stock has had “a massive run up but growth momentum seemed to come in a little bit,” says the analyst, who raised the firm’s FY24 and FY25 EPS estimates to $5.65 and $6.63 from $5.57 and $6.59, respectively. The firm expects strong positive operating leverage in 2025, driven by “healthy fee revenue growth and not too much expense creep,” the analyst tells investors.