Goldman Sachs Sticks to Their Buy Rating for Bank of New York Mellon (BK)

In a report released on January 14, Alexander Blostein from Goldman Sachs reiterated a Buy rating on Bank of New York Mellon, with a price target of $143.00. The company’s shares closed yesterday at $124.59.

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Blostein covers the Financial sector, focusing on stocks such as Ares Management, Affiliated Managers, and BlackRock. According to TipRanks, Blostein has an average return of 19.6% and a 75.27% success rate on recommended stocks.

Bank of New York Mellon has an analyst consensus of Moderate Buy, with a price target consensus of $134.46, implying a 7.92% upside from current levels. In a report released on January 15, TipRanks – Google also reiterated a Buy rating on the stock with a $143.00 price target.

Based on Bank of New York Mellon’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.36 billion and a net profit of $1.45 billion. In comparison, last year the company earned a revenue of $10.16 billion and had a net profit of $1.18 billion