M&T Bank Analysts Boost Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
M&T Bank Corporation (NYSE:MTB) reported better-than-expected third-quarter earnings, with EPS of $4.08 beating the consensus estimate of $3.64. Sales also surpassed expectations at $2.332 billion. Following the earnings report, analysts from RBC Capital, Barclays, and Goldman Sachs raised their price targets for MTB. Despite the positive earnings, MTB shares fell 0.5% to $197.98.
October 18, 2024 | 4:14 pm
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POSITIVE IMPACT
M&T Bank's Q3 earnings exceeded expectations, leading to raised price targets from major analysts. Despite this, the stock saw a slight decline.
M&T Bank's better-than-expected earnings and subsequent analyst price target increases suggest positive sentiment. However, the slight stock price decline indicates market volatility or profit-taking. Overall, the news is positive for MTB's short-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100