M&T Bank downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research downgraded M&T Bank to Peer Perform from Outperform without a price target. The analyst cites valuation for the downgrade, saying the risk/reward is more balanced following the stock’s recent outperformance. M&T’s upside versus downside is relatively balanced going forward, the analyst tells investors in a research note.