Truist lowered the firm’s price target on M&T Bank to $200 from $225 and keeps a Buy rating on the shares after its Q1 earnings miss. The firm had updated its target multiple to about 10.5-times to reflect higher recession risk, though it remains positive on the name given the bank’s peer leading levels of capital and liquidity and a reasonable valuation, with the stock currently trading below 10-times expected 2025 earnings and below 9-times expected 2026 earnings, the analyst tells investors in a research note.
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