M&T Bank price target raised to $220 from $210 at RBC Capital

RBC Capital analyst Gerard Cassidy raised the firm’s price target on M&T Bank to $220 from $210 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company “through-the-cycle” outperforms on credit, which is increasingly a topic of conversation among investors given the uncertain economic and geopolitical environment as its management knows in order to create long-term shareholder value, it must avoid credit debacles by adhering to strong underwriting standards, the analyst tells investors in a research note.