BNY Mellon (BK) Gets a Sell Rating from Morgan Stanley

Morgan Stanley analyst Betsy Graseck maintained a Sell rating on BNY Mellon (BKResearch Report) today and set a price target of $45.00. The company’s shares closed last Monday at $40.01, close to its 52-week low of $38.54.

According to TipRanks.com, Graseck is a 4-star analyst with an average return of 5.0% and a 55.0% success rate. Graseck covers the Financial sector, focusing on stocks such as Discover Financial Services, Santander Consumer USA, and Capital One Financial.

The word on The Street in general, suggests a Hold analyst consensus rating for BNY Mellon with a $53.45 average price target.

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Based on BNY Mellon’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.68 billion and net profit of $1.43 billion. In comparison, last year the company earned revenue of $4.98 billion and had a net profit of $876 million.

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The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Investment Management, Investment Services, and Other.