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CMA

Comerica

$48.06

-0.34 (-0.70%)

06:53
10/18/16
10/18
06:53
10/18/16
06:53

Comerica now sees driving at least $270M more in pre-tax income for FY18

"On our last earnings call, we announced that we had identified more than 20 work streams in our GEAR Up initiative that are expected to drive a significant improvement in our bottom line. At that time, we also indicated there was more to come, as we were still identifying and analyzing opportunities. We have determined that those new opportunities add about $40 million to our initial financial target. As a result, we are now expecting to drive at least $270 million in additional pre-tax income for full-year 2018. These actions, which we have already begun to execute with urgency, take us a long way towards achieving a double-digit return on equity. We expect to meet or exceed this goal with sustained growth, net of investment, normal credit costs, continued equity buybacks, and assuming only a 25 to 50 basis point increase in rates. We are not relying on a significantly better economic environment or a substantial increase in rates to reach our goal. We remain confident that as we deliver on this initiative, we will create greater shareholder value," said Ralph Babb, Jr., chairman and CEO.

  • 18

    Oct

CMA Comerica
$48.06

-0.34 (-0.70%)

09/16/16
09/16/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wal-Mart (WMT) coverage assumed with an Outperform from Neutral at Credit Suisse with analyst Edward Kelly saying he is encouraged by Wal-Mart's return to traffic growth against a deteriorating staples retail environment and its aggressive U.S. investments to solidify its position in an evolving industry. 2. Clorox (CLX) upgraded to Overweight from Neutral at Atlantic Equities. 3. Comerica (CMA) upgraded to Conviction Buy from Neutral at Goldman with analyst Ryan Nash saying he sees upside to Comerica's current recently announced strategic plan to improve pre-tax returns by $230M. 4. Hormel Foods (HRL) upgraded to Buy from Hold at Edward Jones. 5. Micron (MU) upgraded to Buy from Neutral at Cleveland Research with analyst Kevin Rottinghaus saying Micron's execution has improved and progress in DRAM and NAND fundamentals over the past 2-3 months is sustainable into 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/06/16
WEDB
10/06/16
INITIATION
Target $29
WEDB
Neutral
Comerica initiated with a Neutral at Wedbush
Wedbush analyst Peter Winter initiated Comerica with a Neutral and a $29 price target.
10/11/16
10/11/16
DOWNGRADE
Target $50

Market Perform
Comerica downgraded to Market Perform from Outperform at FBR Capital
FBR Capital analyst Bob Ramsey downgraded Comerica to Market Perform citing valuation following the recent strength in the shares. The analyst keeps a $50 price target for the stock.
10/11/16
10/11/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Comerica (CMA) downgraded to Market Perform from Outperform at FBR Capital with analyst Bob Ramsey citing valuation following the recent strength in the shares. 2. Charter downgraded to Neutral from Buy at MoffettNathanson with analyst Craig Moffett saying shares have risen sharply year-to-date, along with consensus estimates, and views shares as fairly valued. 3. BHP Billiton (BHP) downgraded to Neutral from Buy at UBS with the firm citing its expectations for lower iron ore and coal prices over the next six months. 4. Illumina (ILMN) downgraded to Sell from Neutral at Janney Capital and to Neutral from Buy at Citi. 5. KBR (KBR) downgraded to Sell from Neutral at Goldman with analyst Jerry Revich citing limited growth prospects due to outsized exposure to core LNG and greenfield ammonia capex cycles that are in the early stages of decline. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

WLFC

Willis Lease

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0.05 (0.19%)

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DPS

Dr Pepper Snapple

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1.03 (1.08%)

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RCII

Rent-A-Center

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0.09 (0.78%)

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AR

Antero Resources

$18.74

-0.59 (-3.05%)

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T

AT&T

$37.21

0.06 (0.16%)

, TWX

Time Warner

$93.36

0.39 (0.42%)

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Periodicals
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T

AT&T

$37.21

0.06 (0.16%)

TWX

Time Warner

$93.36

0.39 (0.42%)

VZ

Verizon

$51.91

0.36 (0.70%)

CMCSA

Comcast

$42.50

0.65 (1.55%)

CMCSK

Comcast

DISH

Dish

$45.26

0.1 (0.22%)

CHTR

Charter

$366.05

0.8 (0.22%)

DIS

Disney

$110.59

0.17 (0.15%)

VIA

Viacom

$39.20

-0.5 (-1.26%)

VIAB

Viacom

$33.36

-0.59 (-1.74%)

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    Feb

GRPN

Groupon

$5.57

0.46 (9.00%)

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CELG

Celgene

$102.65

0.93 (0.91%)

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  • 25

    Jan

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VALU

Value Line

$19.60

0.3 (1.55%)

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VALU

Value Line

$19.60

0.3 (1.55%)

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Value Line declares special dividend of 20c per share »

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ZEAL

Zealand Pharma

$15.05

-0.78 (-4.93%)

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GNMSF

Genmab

$190.75

2.75 (1.46%)

, JNJ

Johnson & Johnson

$147.36

0.44 (0.30%)

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Genmab

$190.75

2.75 (1.46%)

JNJ

Johnson & Johnson

$147.36

0.44 (0.30%)

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  • 19

    Jan

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    Mar

HII

Huntington Ingalls

$242.12

5.24 (2.21%)

17:21
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  • 15

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BAESY

BAE Systems

$33.30

0.18 (0.54%)

, GD

General Dynamics

$209.10

1.3 (0.63%)

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BAE Systems

$33.30

0.18 (0.54%)

GD

General Dynamics

$209.10

1.3 (0.63%)

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  • 24

    Jan

SYRS

Syros Pharmaceuticals

$10.80

0.27 (2.56%)

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Syndicate
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WTFC

Wintrust Financial

$87.81

0.96 (1.11%)

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  • 23

    Jan

TWTR

Twitter

$23.66

-0.38 (-1.58%)

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  • 23

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ITEK

Inotek Pharmaceuticals

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OIS

Oil States

$32.80

0.35 (1.08%)

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AVGO

Broadcom

$266.39

-3.41 (-1.26%)

, QCOM

Qualcomm

$68.04

-0.01 (-0.01%)

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AVGO

Broadcom

$266.39

-3.41 (-1.26%)

QCOM

Qualcomm

$68.04

-0.01 (-0.01%)

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  • 06

    Mar

TRNC

tronc

$19.53

0.3 (1.56%)

16:37
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AP

Ampco-Pittsburgh

$14.20

0.15 (1.07%)

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  • 29

    Mar

CG

Carlyle Group

$24.35

-0.05 (-0.20%)

, UBSH

Union Bankshares

$38.79

0.54 (1.41%)

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CG

Carlyle Group

$24.35

-0.05 (-0.20%)

UBSH

Union Bankshares

$38.79

0.54 (1.41%)

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  • 23

    Jan

ANDX

Andeavor Logistics

$52.52

0.12 (0.23%)

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  • 16

    Feb

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Options
Preliminary option volume of 22.8M today »

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TRNC

tronc

$19.53

0.3 (1.56%)

16:26
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