Wells Fargo analyst Mike Mayo raised the firm’s price target on BNY Mellon (BK) to $96 from $86 and keeps an Equal Weight rating on the shares. The CEO letter focuses on growth opportunities, including cap markets, pvt markets, digital/new assets, high net worth, and leveraging its top tier clients for more growth. The question is the degree that growth can lead more of the way relative to efficiency, the firm says.
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