Monday, November 13, 2006

RBC Said Mellon Bank Is Looking to Make Acquisitions

Mellon Bank (NYSE: MEL) : MEL is holding an analyst meeting today. RBCM say's "investors should look for MEL to make acquisitions, especially in the asset management business and outside the US market, in our opinion. We want to own the stock: We believe investors should own MEL stock but we are looking for a better entry point, preferably below $35." MEL over all option implied volatility of 18 is near its 6-month average according to Track Data, suggesting standard deviation price fluctuations. Paul Foster



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