Goldman Sachs is out with its report today on Bank of New York Mellon BK, maintaining Neutral.
In a note to clients, Goldman Sachs writes, "We believe investor sentiment heading into BK's print was already fairly low. However, higher expenses and still deteriorating rate-related fees put near-term consensus EPS estimates at risk. Although AUM/AUC continue to grow nicely, the firm's bottom line remains growth-constrained, which likely keeping the stock grounded."
At the time of posting, shares of BK were trading pre-market at $28.61, down 2.02% from Monday's close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorAnalyst RatingsAsset Management & Custody BanksBank of New York MellonFinancialsGoldman Sachs
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in