Fund Statistics Now Available for: Dreyfus High Yield Strategies Fund, Dreyfus Municipal Income, Inc., Dreyfus Strategic Municipal Bond Fund, Inc. and Dreyfus Strategic Municipals, Inc.

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Go back to Fund Statistics Now Available for: Dreyfus High Yield Strategies Fund, Dreyfus Municipal Income, Inc., Dreyfus Strategic Municipal Bond Fund, Inc. and Dreyfus Strategic Municipals, Inc.

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