Wells Fargo raised the firm’s price target on M&T Bank to $150 from $145 and keeps an Equal Weight rating on the shares. The firm says M&T’s Q1 2024 call was fairly positive as the company guided for higher net interest income, CRE portfolio risk appears to be stabilizing, and dry powder for growth and buybacks. Nonetheless, near-term risks are high given its CRE mix that can influence DFAST results.
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