** BNY BK.N on Wednesday beat fourth-quarter profit estimates, helped by higher investment services fees from its clients
** Median PT of 18 brokerages covering stock is $92 - LSEG data
HAS ROOM FOR PROFIT GROWTH
** BofA Global Research ("buy," PT: $95) says BNY is still in early to middle innings of transformation that has potential to drive better-than-expected growth and profit
** "We view BK as a capital light business model with strong ROTCE generation which should support healthy capital return," BofA says
** KBW ("outperform," PT: $96) sees momentum in servicing income and cost control driving results, with recent earnings outcomes projected to drive growth and indicate further upside potential
** RBC ("sector perform," PT: $90) says with non-interest expense having fallen, investors are seeing evidence of successful execution of co's business strategy
** Barclays ("overweight," PT: $104) says BNY's growth could be driven by net interest income, controlled expenses and stable deposits
(Reporting by Rashika Singh in Bengaluru)
((rashika.singh@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.