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Fly News Breaks for July 18, 2019
CMA
Jul 18, 2019 | 08:29 EDT
DA Davidson analyst Gary Tenner lowered his price target on Comerica to $75 and kept his Neutral rating after its below-consensus Q2 results, driven by higher loan loss provision and a contracting net interest margin. The analyst states that while the returns on the stock remain strong, they may have peaked in the current cycle. Tenner added that he is also lowering his FY19 and FY20 EPS view by 17c and 36c to $8.03 and $8.15 to reflect the margin and revenue pressure from the expected cut by the FOMC.
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