Morgan Stanley analyst Betsy Graseck lowered the firm’s price target on BNY Mellon (BK) to $93 from $94 and keeps an Overweight rating on the shares following the Q1 report. The company’s earnings beat with management reiterating the full-year guidance for a fourth straight year of positive operating leverage, the analyst tells investors in a research note. The firm is now more confident in its Overweight rating, particularly in a period of macro uncertainty.
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