Wells Fargo Downgrades M&T Bank to Underweight, Lowers Price Target to $165
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Mike Mayo has downgraded M&T Bank (NYSE:MTB) from Equal-Weight to Underweight and lowered the price target from $170 to $165.
August 15, 2024 | 11:28 am
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NEGATIVE IMPACT
Wells Fargo analyst Mike Mayo downgraded M&T Bank from Equal-Weight to Underweight and reduced the price target from $170 to $165.
The downgrade from Equal-Weight to Underweight and the reduction in the price target by a reputable analyst like Mike Mayo from Wells Fargo is likely to negatively impact investor sentiment and the short-term stock price of M&T Bank.
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IMPORTANCE 80
RELEVANCE 100