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Fly News Breaks for January 23, 2020
MTB
Jan 23, 2020 | 16:02 EDT
As previously reported, BofA analyst Erika Najarian upgraded M&T Bank to Neutral from Underperform as the catalysts that drove the stock's underperformance appears to be behind the company. In particular, M&T Bank provided a clear outlook on 2020 expenses, which was necessary as prior to Q4 the company had missed consensus expense expectations for four quarters in a row, she notes. Looking ahead, the analyst sees no company-driven catalyst for multiple compression. Najarian also raised her price target on the shares to $169 from $162.
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