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UBS Cuts Price target on Bank of New York (BK) on Expected Revenue Headwinds
January 22, 2016 9:49 AM ESTUBS maintained a Buy rating on Bank of New York Mellon (NYSE: BK), and cut the price target to $42.00 (from $50.00), following the company's 4Q earnings report. BK faces revenue headwinds in its clearing business that should be more visible over the coming quarters. However, those revenue losses also have associated expenses that should decline in tandem.
Analyst Brennan Hawken... More
