UPDATE: Keefe, Bruyette & Woods Upgrades M&T Bank Corporation to Outperform, Raises PT
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.
Latest Ratings for MTB
|Jul 2014||Keefe Bruyette & Woods||Upgrades||Market Perform||Outperform|
|May 2014||Nomura||Initiates Coverage on||Buy|
|May 2014||Goldman Sachs||Upgrades||Neutral||Buy|
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