M&T Bank price target lowered to $200 from $225 at Truist

Truist analyst Brian Foran lowered the firm’s price target on M&T Bank to $200 from $225 and keeps a Buy rating on the shares. The firm updated the company’s model post earnings. It lowered the stock’s multiple to reflect higher recession risk. However, Truist likes M&T’s “peer leading levels of capital and liquidity,” and sees a “reasonable valuation” at current share levels.