(CercleFinance.com) – Jefferies reaffirms its ‘buy’ recommendation and its price target of 55 dollars on Bank of New York-Mellon, following a meeting with the bank’s new chief financial officer, Dermot McDonogh.
‘Cost control and improving productivity are priority areas, while management aims to drive a more centralized and coordinated franchise’, reports the broker in charge of the file.
Jefferies also points out that despite recent developments in the sector, BNY-Mellon remains confident in a redistribution of capital to shareholders representing more than 100% of its profits in 2023.
Copyright © 2023 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
