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Benzinga
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Top Wall Street Forecasters Revamp Bank of New York Mellon Expectations Ahead Of Q3 Earnings

1. BK to report Q3 earnings on Oct. 16, expected at $1.77 per share. 2. Projected revenue for BK is $4.98 billion, an increase from last year. 3. Goldman Sachs raised BK's price target from $106 to $120, maintaining a Buy. 4. BMO initiated coverage with an Outperform rating, price target of $125. 5. Shares of BK gained 0.8%, closing at $107.11 on Tuesday.

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FAQ

Why Bullish?

Analyst upgrades and positive earnings expectations signal strong market confidence, similar to previous quarters where earnings exceeded expectations, leading to positive stock price movements.

How important is it?

The expected earnings increase and analyst price target raises indicate significant potential for immediate price movement, reflecting high investor interest.

Why Short Term?

Upcoming earnings report likely to influence BK's stock price in the immediate weeks, as seen historically when stock prices respond to quarterly results.

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