Form SBSE-A/A Bank of New York Mellon
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Goldman Sachs Reiterates Buy Rating on Bank of New York Mellon (BK)
October 11, 2024 8:56 AM EDTGoldman Sachs analyst Alexander Blostein reiterated a Buy rating and $80.00 price target on Bank of New York Mellon (NYSE: BK)
The analyst comments "BK reported adjusted 3Q24 EPS of $1.52 (ex. one-offs including $40mn in severance, $2mn in litigation reserves and $17mn of FDIC special assessment charges) or 7% ahead of Consensus at $1.42/share and 3% ahead of GSe $1.47 estimate. Results were solid across the board, supported by stronger NII, modestly higher fee revenues, stronger investment & other revenues as well as well-managed expenses, driving a 33% pre-tax Income margin... More
