The Ratings Game: Bank of New York stock pops after mostly missing out on post-election rally

Raymond James on Wednesday gave a shout-out to Bank of New York Mellon Corp., the custodial bank that has largely missed out on the sector’s post-election rally. The brokerage upgraded the stock to strong buy from outperform.

Bank of New York BK, +0.56% shares have gained just 8% since the November election, while the KBW Nasdaq Bank exchange-traded fund BKX, -0.92% has gained 24%, “creating what we believe is an attractive entry point, as the market is overstating potential headwinds,” analysts led by David Long wrote in a note.

See also: Bank stocks could record big gains in the months ahead if Donald Trump gets his way

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