Jefferies & Company Reports on M&T Bank

Jefferies & Company commented on M&T Bank MTB in a report released today. In the report, Jefferies was mixed in its assessment of the company. Jefferies writes, "M&T shined through the downturn, and we believe the bank will again differentiate itself over the next few years. We are more positive on the fee capabilities Wilmington Trust brings, which drives a modest increase to our estimates and price target (to $100 from $98). While not an inexpensive stock (hence our Neutral), we see more upside than downside." Jefferies currently has a Hold rating on M&T Bank and a price target of $100. Shares of M&T closed the trading day Friday at $88.04, down $0.69 from the opening bell.