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Jefferies Raises Target, Estimates for Bank of New York Mellon (BK)

Banking giant The Bank of New York Mellon Corporation ( BK ) on Thursday caught some positive commentary from analysts at Jefferies & Co.

The firm maintained its "Hold" rating on BK but raised its price target to $23, suggesting a small upside to the stock's Wednesday closing price of $22.11.

Jefferies also boosted its earnings estimates for the company, noting that its recent expense hurdles have now been cleared.

Bank of New York Mellon shares were unchanged in premarket trading Thursday.

The Bottom Line

Shares of The Bank of New York Mellon ( BK ) have a 2.35% dividend yield, based on last night's closing stock price of $22.11. The stock has technical support in the $18-$20 price area. If the shares can firm up, we see overhead resistance around the $24-$26 price levels.

The Bank of New York Mellon Corporation ( BK ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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