** Truist Securities upgrades Bank of New York Mellon Corporation BK.N to "buy" from "hold"
** Brokerage cites BK has cemented its new status as the chief quality compounder among trusts
** Despite the success to date of BK's commercial and platform operating models, we think there is more room to run, brokerage says
** Longer-term, the fiscal environment should be secularly favorable for fixed income markets, where BK has outsize exposure via custody plus other businesses, brokerage says
** Brokerage also raises PT to $134 from $119, a 10.4% upside to the stock's last close
** 11 of 18 brokerages rate the stock "buy" or "higher" and 7 "hold"; median PT is $127.50 — LSEG
** Including session's move, BK up 54.7% in the last 12 months
(Reporting by Pragyan Kalita in Bengaluru)
((Pragyan.Kalita@thomsonreuters.com))
