M&T Bank price target raised to $160 from $157 at BofA

BofA raised the firm’s price target on M&T Bank to $160 from $157 and keeps a Buy rating on the shares after the bank reported Q1 EPS that beat the firm’s estimate and consensus. The firm revised its FY24 and FY25 EPS estimates to $14.00 and $15.94, respectively, noting that M&T made no material changes to its 2024 outlook other than upping its net interest income guidance given the boost from higher for longer interest rates.