Morgan Stanley analyst Betsy Graseck has maintained their bullish stance on BK stock, giving a Buy rating on April 4.
Betsy Graseck’s rating is based on the Bank of New York Mellon Corporation’s consistent performance and strategic positioning. The company has demonstrated a strong track record with its fifth consecutive quarter of positive operating leverage, which is a significant indicator of its operational efficiency and financial health. Despite macroeconomic uncertainties, the management’s ability to maintain a stable net interest income (NII) outlook, even with potential interest rate cuts, adds to the confidence in the company’s resilience.
Betsy Graseck also notes the company’s conservative approach to capital management, as reflected in the adjusted buyback estimates. This adjustment aligns with the company’s guidance and reflects a prudent strategy in navigating market volatility. The combination of these factors, including the company’s ability to manage deposits effectively amid macro volatility, supports the Buy rating, indicating a positive outlook for the stock’s future performance.
In another report released on April 4, Truist Financial also maintained a Buy rating on the stock with a $90.00 price target.
BK’s price has also changed slightly for the past six months – from $74.150 to $77.670, which is a 4.75% increase.