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UPDATE: Keefe, Bruyette & Woods Upgrades M&T Bank Corporation to Outperform, Raises PT

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Keefe Bruyette & Woods Upgrades M&T Bank To Outperform

In a report published Friday, Keefe, Bruyette & Woods upgraded its rating on M&T Bank Corporation (NYSE: MTB) to Outperform, and raised its price target from $109.00 to $111.00.

Keefe, Bruyette & Woods noted, “We are raising '12 EPS estimates 15c to $7.57 and '13 estimates $0.25 to $8.45, largely on revised mortgage banking estimates and raising our target price $2 to $111. We believe MTB is well positioned to offset NIM headwinds with expense controls, and we believe the HCBK merger will be very accretive and a catalyst for consensus estimates to move higher. We are raising our rating to Outperform.”

M&T Bank Corporation closed on Thursday at $97.80.

Posted-In: Keefe Bruyette & WoodsAnalyst Color Upgrades Analyst Ratings

 

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