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Fly News Breaks for October 17, 2019
CMA
Oct 17, 2019 | 06:02 EDT
Piper Jaffray analyst Brett Rabatin downgraded Comerica to Neutral from Overweight with a price target of $72.50, down from $74.50. Following the company's Q3 earnings, it is more evident that valuation expansion for Comerica is not very likely given lower revenues and a lack of operating leverage, Rabatin tells investors in a research note. Positive estimate revisions seem unlikely, says the analyst, who still believes Comerica will remain more profitable than most peers.
News For CMA From the Last 2 Days
CMA
Apr 26, 2024 | 07:34 EDT
Piper Sandler analyst R. Scott Siefers raised the firm's price target on Comerica to $56 from $54 and keeps a Neutral rating on the shares. The Q1 results from the Midwest banks contained no major surprises, and they are "hopefully nearing a positive" net interest income inflection, the analyst tells investors in a research note. Despite the fluid rate environment, managements broadly reiterated NII guides, says Piper.
