Morgan Stanley Upgrades Bank of New York Mellon to Equal-Weight, Raises Price Target to $62
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Betsy Graseck upgraded Bank of New York Mellon (NYSE:BK) from Underweight to Equal-Weight and increased the price target from $52 to $62.
January 30, 2024 | 11:32 am
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Morgan Stanley upgraded Bank of New York Mellon's stock rating to Equal-Weight and raised the price target to $62, indicating a more favorable outlook.
Upgrades by major analysts like Morgan Stanley can lead to increased investor confidence and potential short-term price appreciation. The raise in price target to $62 suggests a more optimistic view on the stock's value, which may influence investors to adjust their positions accordingly.
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