JP Morgan Upgrades Bank of New York Mellon to Overweight, Announces $54.5 Price Target
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Vivek Juneja has upgraded Bank of New York Mellon (NYSE:BK) from Neutral to Overweight and set a price target of $54.5.
December 18, 2023 | 10:16 am
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Bank of New York Mellon was upgraded by JP Morgan from Neutral to Overweight with a new price target of $54.5.
Analyst upgrades typically lead to a positive short-term reaction in the stock price as market participants adjust their positions based on the new information. The upgrade from Neutral to Overweight suggests a bullish outlook on the stock, which can attract buyers. The specific price target of $54.5 provides a clear expectation for future price appreciation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100