Piper Jaffray analyst Brett Rabatin says he's not surprised Comerica's average loans were slightly lower in its mid-quarter update. The analyst had already modeled average loans being down slightly in Q3 and does not believe lower average balances so far this quarter will surprise anyone. Investors will have to wait for "earnings to get real answers" on whether growth can really improve into fiscal 2019, Rabatin tells investors in a research note. Overall, he thinks yesterday's mid-quarter update is not a positive catalyst for shares of Comerica. The analyst was hoping for a slightly lower targeted CET1 ratio, but applauds the "more aggressive management of capital." He keeps an Overweight rating on Comerica with a $117 price target.