M&T Bank price target raised to $190 from $165 at Wells Fargo

Wells Fargo raised the firm’s price target on M&T Bank to $190 from $165 and keeps an Underweight rating on the shares. M&T Bank reported solid Q3 results with commentary for Q4 in line with its prior FY24 guidance and year-to-date results, the analyst tells investors in a research note. M&T does have dry powder in cash, credit reserves, and capital, but these don’t accelerate core run-rate earnings power, the firm says.