M&T Bank price target raised to $185 from $159 at DA Davidson

DA Davidson analyst Peter Winter raised the firm’s price target on M&T Bank to $185 from $159 and keeps a Neutral rating on the shares. The company’s Q2 results were highlighted by a “solid improvement” in leading credit quality trends with a sequential decline in non-performing assets and criticized loans, the analyst tells investors in a research note. M&T continues to be conservative with its excess capital as it further works down problem loans and reduces its commercial real estate exposure, the firm added.