Goldman Sachs raised the firm’s price target on BNY Mellon (BK) to $126 from $120 and keeps a Buy rating on the shares. BNY Mellon provided a stronger than expected net interest income outlook as it continues to execute on multiple fronts, including accelerating organic fee growth and robust operating leverage with more runway to go, the analyst tells investors in a research note. The firm sees a durable 10%-15% EPS CAGR, supporting a higher multiple for the stock.
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