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Citi Sticks to Its Hold Rating for Bank of New York Mellon (BK)

Tipranks - Tipranks - Tue Feb 24, 5:40AM CST

In a report released on February 20, Emily Ericksen from Citi maintained a Hold rating on Bank of New York Mellon, with a price target of $136.00. The company’s shares closed last Friday at $118.19.

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Ericksen covers the Financial sector, focusing on stocks such as Bank of New York Mellon, Northern, and State Street. According to TipRanks, Ericksen has an average return of 12.7% and a 100.00% success rate on recommended stocks.

In addition to Citi, Bank of New York Mellon also received a Hold from Morgan Stanley’s Manan Gosalia in a report issued on February 17. However, on February 12, J.P. Morgan maintained a Buy rating on Bank of New York Mellon (NYSE: BK).

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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

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