The Bank of New York Mellon Corporation (NYSE:BK) is one of the 11 Most Profitable Cheap Stocks to Invest In Now. On January 14, Keefe, Bruyette & Woods increased its price target on The Bank of New York Mellon Corporation (NYSE:BK) from $132 to $143 and kept its Outperform rating.
The research firm highlighted The Bank of New York Mellon Corporation’s (NYSE:BK) strong performance in its recent quarter and pointed to the new medium-term profitability targets. These include a pre-tax margin of 38% or more and a return on tangible common equity (ROTCE) of 28% or more.
Keefe, Bruyette & Woods increased its EPS estimates for The Bank of New York Mellon Corporation (NYSE:BK) for 2026 and 2027. The firm also pointed out that the company’s progress toward a high 20% ROTCE and growing net interest margin could allow for multiple expansion.
Also on January 14, RBC Capital increased its price target on The Bank of New York Mellon Corporation (NYSE:BK) from $124 to $130 and kept its Sector Perform rating. The research firm noted that the company’s “laserlike focus” on execution, which is the company’s “Northstar” metric, helps with achieving positive operating leverage.
The Bank of New York Mellon Corporation (NYSE:BK) is a leading financial services company that offers financial platforms, products, and services in the US and internationally.
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Disclosure: None. This article is originally published at Insider Monkey.
