BNY-Mellon: Jefferies positive after meeting CFO

(CercleFinance.com) - Jefferies has confirmed its "buy" rating on Bank of New York-Mellon shares, along with its $55 target price, after meeting the bank's new CFO, Dermot McDonogh.


"Cost control and producitvity enhancement are focus areas, as mgmt. aims to run a more centralized, coordinated franchise," the broker reports.

Jefferies also points out that despite recent industry developments, BNY-Mellon remains confident of returning capital to shareholders in excess of 100% of earnings in 2023.


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