BNY upgraded to buy at Deutsche Bank as analyst raised target price from $66 to $80

Deutsche Bank analyst Brian Bedell has upgraded Bank of New York Mellon Corp. shares to a buy rating because he believes the financial giant is poised to post double-digit annual earnings per share growth through at least 2026.

Bedell said BNY Mellon “offers more upside potential than downside risk” and should command a higher stock market valuation.

He cited the company’s three main strengths as examples, including its evolving platform-based business model that aims to provide more services to existing customers.