These Analysts Boost Their Forecasts On Bank of New York Mellon Following Strong Q3 Earnings
Strong earnings results and raised targets suggest underlying growth potential for BK.
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Strong earnings results and raised targets suggest underlying growth potential for BK.
What happened, with direct paths to the underlying reporting
BK's Q3 earnings surpassed estimates, reporting EPS of $1.91. Revenue grew 9% year-over-year to $5.081 billion. Alternative revenue sources drove gains: 7% in fees, 18% in net interest income. Analysts raised their price targets, reflecting confidence in BK's performance. Despite strong results, BK shares fell 2% post-announcement.
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