3 major banks update Bank of New York Mellon ratings and price targets.

Royal Bank of Canada maintained its "sector perform" rating for Bank of New York Mellon (BK) with a $58 price target. JPMorgan Chase & Co. upgraded BK from "neutral" to "overweight" with a $54.50 target, and Morgan Stanley raised it from "underweight" to "equal weight" with a $62 target. Analysts' price target averages have increased from $55.33 to $61.75.