Wells Fargo analyst Mike Mayo raised the firm’s price target on BNY Mellon (BK) to $86 from $82 and keeps an Equal Weight rating on the shares. The firm notes BNY’s Q4 beat reflected strong net interest income growth on lower deposit costs, but with improved fee growth. BNY’s ongoing transformation appears to be yielding results, though 2025 guidance was “only so/so” given somewhat uncertain fee guidance, Wells adds.
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