J.P. Morgan is out with its report today on M&T Bank MTB, maintaining Neutral.
In a note to clients, J.P. Morgan writes, "MTB shares trade at 2.6x TBV, or a ~80% premium to peers and 10.6x our normalized EPS estimate of $8.22 (2014E), a 9% premium to peers. With the long term earnings picture at MTB relatively unchanged, no change to our YE11 target of $95. With upside potential in line with peers, we maintain Neutral."
Shares of MTB closed Monday at $87.21, up 2.18% from Friday's close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in