M&T Bank downgraded to Hold at Odeon Capital on difficult operating environment

Odeon Capital downgraded M&T Bank to Hold from Buy with a $133.65 price target. The firm’s adjustment to its rating “does not reflect any negative views concerning management or the operating decisions,” but is due to the macro-financial outlook of the next 12 months, says the analyst, who adds that the “operating environment is expected to be a difficult one.”