.September 23, 2024 at 4:19 PM

Deutsche Bank analysts upgraded Bank of New York Mellon (NYSE:BK) to Buy from Hold, with a price target of $80, up from $66. They forecast annualized revenue growth of just over 4% from 2023 to 2026, citing upside potential and minimal downside risk. Factors supporting this outlook include the company’s emerging platform model, product innovations, and diverse business portfolio. This positions Bank of New York Mellon to thrive in a robust capital markets environment and offer stability in challenging economic conditions.