Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

Tucker Anthony Cuts Bank of New York Outlook


Tucker Anthony cut estimates on Bank of New York (BK).

Analyst Gerard Cassidy says Q2 EPS came in a penny below estimates, and cited two trouble spots in Q2: the slowing global economy, and the fact that the company lost some business volumes associated with client service issues inherited from its acquisition of the former Royal Bank of

Scotland Trust Bank.

Cassidy says the lost business in particular is what concerns him, and says it may may take the company a couple of quarters to bounce back. He adds, however, that Bank of New York remains a high quality company in a strong sector of the economy, and maintains his market perform rating. Cassidy has a $50 target.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus