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Fly News Breaks for October 18, 2019
CMA
Oct 18, 2019 | 07:29 EDT
Argus analyst Kevin Heal downgraded Comerica to Hold after its Q3 results, noting that while the company beat on earnings, its net interest income fell 2.2% from last year. The analyst believes that the company will face higher earnings pressure than its peers amid a lower interest rate environment as its net interest margins continue to compress. Heal adds that Comerica's non-interest expenses will be slightly higher among its peer group due to rising processing and technology costs.
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