BNY Mellon's Price Target Raised to $95 by JPMorgan Analyst

BNY Mellon's price target has been increased by JPMorgan analyst Vivek Juneja from $86 to $95. The analyst attributes the positive adjustment to the recent recovery in equity markets. The average one-year price target for BNY Mellon is $96.23, with a high estimate of $106.00 and a low estimate of $71.21. The estimated GF Value for BNY Mellon in one year is $66.46, suggesting a downside of 28.58% from the current price.

In a recent development, JPMorgan analyst Vivek Juneja has increased the price target for Bank of New York Mellon Corporation (BNY Mellon) from $86 to $95. The analyst attributes this positive adjustment to the recent recovery in equity markets [2]. This move comes as BNY Mellon continues to solidify its position in the financial sector, particularly in the digital asset space.

The average one-year price target for BNY Mellon is now $96.23, with a high estimate of $106.00 and a low estimate of $71.21. The estimated GF Value for BNY Mellon in one year is $66.46, suggesting a potential downside of 28.58% from the current price [2].

The latest update follows BNY Mellon's strategic partnership with Ripple, where the latter has chosen BNY Mellon to securely hold the reserves for its stablecoin, RLUSD. This collaboration underscores BNY Mellon's commitment to supporting the growth and security of digital assets. Ripple's stablecoin, RLUSD, has gained significant traction in the market, with over half a billion dollars in circulation in just seven months [1]. The partnership with BNY Mellon is expected to further enhance the trust and reliability of RLUSD, positioning it as a viable option for cross-border payments.

The increased price target reflects the market's confidence in BNY Mellon's ability to navigate the evolving financial landscape and capitalize on opportunities in the digital asset sector. As BNY Mellon continues to invest in digital innovation and strategic partnerships, investors can expect to see further positive developments in the company's stock performance.

References:
[1] https://www.livebitcoinnews.com/ripple-picks-bny-mellon-to-hold-rlusd-stablecoin-reserves/
[2] https://www.tipranks.com/stocks/bk/forecast