M&T Bank price target lowered to $145 from $150 at Citi

Citi lowered the firm’s price target on M&T Bank to $145 from $150 and keeps a Buy rating on the shares. The analyst refreshed the firm’s model ahead of the company’s Q2 earnings to include recent management commentary on rising deposits costs. This will likely add pressure to M&T’s net interest income in the near term, the analyst tells investors in a research note.