In a note dated May 11th Goldman Sachs analyst Ryan Nash upgraded M&T Bank Corporation from Neutral to Buy and raised the price target from $128 to $145.
Nash outlined three catalysts that he believes could drive shares higher
Market News and Data brought to you by Benzinga APIs- Higher HCBK EPS accretion: Nash sees accretion above "high-single digit" guidance; believes HCBK could add 13 percent to MTB's core earnings.
- Expenses declines coming post Q3: Advances on its BSA/AML program along with continuous improvements should bring M&T toward its year-end efficiency ratio target of 50-55 percent.
- Ratio sensitivity under-appreciated: Nash projects legacy M&T's earnings rising 16 percent when rates rise.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in