M&T Bank price target lowered to $145 from $155 at Wells Fargo

Wells Fargo analyst Christopher Spahr lowered the firm’s price target on M&T Bank to $145 from $155 and keeps an Equal Weight rating on the shares. While credit risks appear manageable notwithstanding above average CRE exposures helped by low LTVs, net interest income tailwinds are expected to become headwinds towards the end of this year, the firm argues.