Evercore ISI analyst Glenn Schorr raised the firm’s price target on BNY Mellon (BK) to $83 from $79 and keeps an In Line rating on the shares following what the firm calls “a mostly in-line quarter which capped off a good year.” The outlook was “positive enough, combining with probably some level of a short squeeze” to account for the stock having popped 8% yesterday following earnings, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BK:
- BNY Mellon price target raised to $97 from $90 at Morgan Stanley
- BNY Mellon price target raised to $95 from $90 at BofA
- BNY Mellon price target raised to $104 from $102 at Barclays
- BNY Mellon price target raised to $86 from $82 at Wells Fargo
- BNY Mellon price target raised to $98 from $94 at Deutsche Bank