RBC Capital analyst Gerard Cassidy lowered the firm’s price target on M&T Bank to $183 from $190 and keeps an Outperform rating on the shares. The analyst states that the "excessive" tightening by the Federal Reserve, resulting in a "deep recession" in 2023, poses a key risk for the bank as it would bring on elevated levels of credit losses and depress earnings.
Published first on TheFly
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