Deutsche Bank analysts upgraded Bank of New York Mellon (NYSE:BK) to Buy from Hold, raising their price target on the stock to $80 from $66.

The analysts highlighted the potential for modest revenue growth, forecasting an annualized rate of just over 4% from 2023 to 2026, with more upside potential than downside risk. They pointed to several factors supporting this outlook, including management's emerging platform model that could offer additional services to existing clients, ongoing product and service innovations expected to generate new revenue streams, and the company's diverse business portfolio.

This combination positions Bank of New York Mellon to benefit from a stronger capital markets environment while providing downside protection in challenging macroeconomic conditions.