DA Davidson analyst Peter Winter lowered the firm’s price target on M&T Bank to $159 from $163 and keeps a Neutral rating on the shares after its Q4 earnings miss, though the firm sees a “light at the end of the tunnel” with margin pressure nearing an end. The analyst states that the pace of deposit cost increase had slowed in the quarter and expects the net interest margin for M&T to bottom in the next one or two quarters.
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