As previously reported, BofA/Merrill analyst Erika Najarian upgraded Comerica to Buy from Neutral and raised her price target on the stock to $108 from $104. After revising her estimates higher yet again, the analyst notes that Comerica now trades at parity on earnings to regional banks that are participant to CCAR. No longer subject to annual stress testing or liquidity restrictions, Comerica now has significant balance sheet flexibility to return capital to shareholders and optimize its net interest margin, further extending its EPS upgrade cycle, Najarian contends. Furthermore, the analyst points out that as Comerica is no longer subject to the regulatory scrutiny associated with "domestic SIFIs," its valuation should accordingly reflect this.