UPDATE: Deutsche Bank Initiates Coverage On The Bank of New York Mellon On Neutral Outlook

In a report published Friday, Deutsche Bank analyst Brian Bedell initiated coverage on The Bank of New York Mellon (NYSE: BK) with a Hold rating and $34.00 price target.

In the report, Deutsche Bank noted, “We are initiating coverage of Bank of New York Mellon with a Hold Rating and $34 Price Target. For more detail, please see our industry report dated 5/22/14; ‘Trust Banks: Initiating Coverage with Hold Ratings—Still in Tough Times'.”

The Bank of New York Mellon closed on Thursday at $34.57.