M&T Bank To Outperform Peers, Analyst Says: 'Overhang Fears Could Erode Over Next Several Quarters'
Portfolio Pulse from Priya Nigam
JPMorgan analyst Steven Alexopoulos upgraded M&T Bank (NYSE:MTB) from Neutral to Overweight, raising the price target from $183 to $215. The analyst believes that the Federal Reserve's potential rate cuts could improve M&T Bank's credit metrics and earnings growth, leading to stock outperformance.
September 03, 2024 | 4:04 pm
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JPMorgan analyst Steven Alexopoulos upgraded M&T Bank to Overweight, with a new price target of $215. The analyst sees potential Fed rate cuts as a catalyst for improved credit metrics and earnings growth, which could lead to stock outperformance.
The upgrade from Neutral to Overweight and the increased price target suggest a positive outlook for M&T Bank. The potential for Fed rate cuts to improve credit metrics and earnings growth is seen as a significant catalyst for the stock's performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100