M&T Bank (NYSE:MTB) Upside Limited on Credit, Top-Line Pressures, Says UBS (NYSE:UBS)

Even though UBS (NYSE:UBS) sees M&T Bank (NYSE:MTB) continuing to outperform their competitive peers, they still believe their upside is limited because of top-line pressures and credit issues.

UBS says, "Although we believe MTB will outperform peers, credit & top-line pressures and will likely limit upside potential. We have increased our ‘11E (to $6.65 from $6.60), and ‘12E (to $7.70 from $.7.31) due to better, but still sluggish, loan growth prospects."

UBS maintains a "Neutral" rating on M&T Bank (MTB), which closed Wednesday at $86.49, gaining $0.29, or 0.34 percent. UBS boosted their price target on M&T from $83 to $84.