M&T Bank price target raised to $215 from $206 at Morgan Stanley

Morgan Stanley raised the firm’s price target on M&T Bank to $215 from $206 and keeps an Overweight rating on the shares. The analyst notes M&T has two positive catalysts coming up in the next month – Fed stress test results on June 27 and Q2 earnings on July 16. The firm has “high conviction” that M&T’s capital requirement will come down in this year’s test and sees the bank buying back 17% of market cap through the end of 2026, adding that it expects buybacks to surprise positively versus consensus as early as Q2 earnings, driving upward EPS revisions.