Truist analyst David Smith initiated coverage of BNY Mellon (BK) with a Buy rating and $91 price target Although the stock was one of the top gainers in 2024, BNY Mellon’s “ongoing inflection” towards quality merits its increasing premium of late versus trust peers, the analyst tells investors in a research note. The firm likes the diversified business mix and “still new-ish” management’s commitment to expense control, positive operating leverage, and capital return.
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