BUZZ-Street View: BNY Mellon looks resilient amid market uncertainty

Reuters
04-14
BUZZ-Street View: BNY Mellon looks resilient amid market uncertainty

** BNY BK.N beat analyst expectation for Q1 profit on Friday, benefiting from growth in assets under custody leading to stronger fee-based revenue streams

** Median PT of 17 brokerages covering the stock is $93 - LSEG data

DATA-DRIVEN DOMINANCE

** Evercore ISI ("in line," PT: $84) sees Securities Services and Market & Wealth Services performing optimally, while Investment & Wealth Management needs improvement due to market declines and outflows in higher-margin equity and multi-asset products

** BofA Global Research ("buy," PO $99) is optimistic about BNY due to its strong management, asset-light model, and digital strategy

** Deutsche Bank ("buy," PT: $85) views BNY as well-positioned to generate positive operating leverage and sees potential upside depending on market trends in subsequent quarters

** Citigroup ("neutral," PT: $85) expects growth in transaction services and fee operational leverage

(Reporting by Rashika Singh in Bengaluru)

((rashika.singh@thomsonreuters.com))

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