BNY Mellon Reports Fourth Quarter Earnings Of $637 Million Or $0.57 Per Common Share, Including: $0.11 per common share for the previously disclosed impairment charge related to a recent court decisio

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Go back to BNY Mellon Reports Fourth Quarter Earnings Of $637 Million Or $0.57 Per Common Share, Including: $0.11 per common share for the previously disclosed impairment charge related to a recent court decisio

UBS Cuts Price target on Bank of New York (BK) on Expected Revenue Headwinds

January 22, 2016 9:49 AM EST

UBS maintained a Buy rating on Bank of New York Mellon (NYSE: BK), and cut the price target to $42.00 (from $50.00), following the company's 4Q earnings report. BK faces revenue headwinds in its clearing business that should be more visible over the coming quarters. However, those revenue losses also have associated expenses that should decline in tandem.

Analyst Brennan Hawken... More