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CMA

Comerica

$65.50

-1.505 (-2.25%)

06:02
10/17/19
10/17
06:02
10/17/19
06:02

Comerica downgraded to Neutral from Overweight at Piper Jaffray

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.

CMA Comerica
$65.50

-1.505 (-2.25%)

09/10/19
MSCO
09/10/19
NO CHANGE
Target $82
MSCO
Overweight
Comerica price target lowered to $82 from $90 at Morgan Stanley
Morgan Stanley analyst Ken Zerbe noted that Comerica (CMA) disclosed in conference presentation slides released Friday after the close that its Q3 interest-bearing deposit costs would increase 5-7 bps to roughly 100 bps, which was initially "highly disappointing" to him as he'd assumed deposit costs would start to decline in Q3. However, Zerbe also points out that more banks, including M&T Bank (MTB) and First Republic (FRC), have been talking about flat-to-higher Q3 deposit costs as well. Comerica also noted in its slides that it expects a $30M decline in net interest income in Q3 due to interest rate moves, noted Zerbe, who added that Q4 might be another difficult quarter for net interest income. Due to lower NII, Zerbe lowered his EPS estimates and cut his price target on Comerica shares to $82 from $90, though he keeps an Overweight rating on the stock.
09/10/19
RHCO
09/10/19
NO CHANGE
Target $67
RHCO
Hold
Comerica price target lowered to $67 from $75 at SunTrust
SunTrust analyst Jennifer Demba lowered her price target on Comerica to $67 and kept her Hold rating, saying the new deposit cost guidance from its management disclosed on Friday lowers the company's net interest income and margin expectations. The analyst also lowers her FY19 and FY20 EPS views by 21c and 89c to $7.84 and $7.37 respectively, adding that she will provide another update after its conference commentary and her meeting with Comerica management this week.
09/24/19
MSCO
09/24/19
NO CHANGE
MSCO
Large-cap banks aren't gaining deposit market share, says Morgan Stanley
Morgan Stanley analyst Ken Zerbe said he continues to hear the "false narrative" that large-cap banks must be gaining market share due to their superior technology, but he insists they are not and that small and mid-cap banks have consistently gained deposit market share over the last five years. Individual large-cap banks that have had the biggest deposit share gains include Goldman Sachs (GS), Ally Financial (ALLY) and Synchrony Financial (SYF), while mid-cap banks that have delivered the biggest gains in share of total deposits include First Republic (FRC), KeyCorp (KEY) and Huntington (HBAN), Zerbe tells investors. Large-cap banks that have seen the largest declines in their respective individual shares of total deposits include JPMorgan (JPM), Wells Fargo (WFC) and Citigroup (C), while deposit share losers among mid-cap banks include Comerica (CMA), Prosperity Bancshares (PB) and Zions (ZION), said Zerbe.
10/17/19
JPMS
10/17/19
DOWNGRADE
Target $65
JPMS
Underweight
Comerica downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Steven Alexopoulos downgraded Comerica to Underweight from Neutral with a $65 price target.

TODAY'S FREE FLY STORIES

TGT

Target

$110.86

0.27 (0.24%)

, LOW

Lowe's

$113.41

-1.62 (-1.41%)

20:25
11/19/19
11/19
20:25
11/19/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

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TGT

Target

$110.86

0.27 (0.24%)

LOW

Lowe's

$113.41

-1.62 (-1.41%)

NTES

NetEase

$288.77

-1.33 (-0.46%)

CPRT

Copart

$86.33

0.32 (0.37%)

LB

L Brands

$17.19

-0.67 (-3.75%)

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ICAGY

IAG

$0.00

(0.00%)

20:23
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20:23
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20:23
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RYAAY

Ryanair

$86.27

0.52 (0.61%)

20:20
11/19/19
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20:20
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20:20
Initiation
Ryanair initiated  »

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LXFR

Luxfer

$17.57

0.16 (0.92%)

20:11
11/19/19
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20:11
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20:11
Initiation
Luxfer initiated  »

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VAL

Valaris

$3.69

-0.515 (-12.26%)

20:09
11/19/19
11/19
20:09
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20:09
Initiation
Valaris initiated  »

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RIG

Transocean

$4.66

-0.16 (-3.32%)

20:03
11/19/19
11/19
20:03
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20:03
Initiation
Transocean initiated  »

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FTI

TechnipFMC

$19.29

-0.24 (-1.23%)

19:58
11/19/19
11/19
19:58
11/19/19
19:58
Initiation
TechnipFMC initiated  »

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SLB

Schlumberger

$34.31

-0.36 (-1.04%)

19:53
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11/19
19:53
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19:53
Initiation
Schlumberger initiated  »

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PTEN

Patterson-UTI

$8.49

-0.095 (-1.11%)

19:45
11/19/19
11/19
19:45
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19:45
Initiation
Patterson-UTI initiated  »

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SAFE

Safehold

$34.59

-1.33 (-3.70%)

19:38
11/19/19
11/19
19:38
11/19/19
19:38
Syndicate
Safehold 3M share Secondary priced at $34.00 »

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HP

Helmerich & Payne

$38.39

-0.45 (-1.16%)

19:36
11/19/19
11/19
19:36
11/19/19
19:36
Initiation
Helmerich & Payne initiated  »

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HAL

Halliburton

$19.89

-0.26 (-1.29%)

19:31
11/19/19
11/19
19:31
11/19/19
19:31
Initiation
Halliburton initiated  »

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  • 21

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BKR

Baker Hughes

$22.01

-0.155 (-0.70%)

19:24
11/19/19
11/19
19:24
11/19/19
19:24
Initiation
Baker Hughes initiated  »

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PHAT

Phathom Pharmaceuticals

$24.79

-0.09 (-0.36%)

19:23
11/19/19
11/19
19:23
11/19/19
19:23
Initiation
Phathom Pharmaceuticals initiated  »

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SHW

Sherwin-Williams

$584.48

-1.13 (-0.19%)

19:20
11/19/19
11/19
19:20
11/19/19
19:20
Downgrade
Sherwin-Williams rating change  »

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SPY

SPDR S&P 500 ETF Trust

$311.95

-0.06 (-0.02%)

, SPX

S&P 500

$0.00

(0.00%)

19:17
11/19/19
11/19
19:17
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19:17
Periodicals
Commerce Sec Ross says China trade talks still work in progress, Bloomberg says »

U.S. Commerce Secretary…

SPY

SPDR S&P 500 ETF Trust

$311.95

-0.06 (-0.02%)

SPX

S&P 500

$0.00

(0.00%)

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BRY

Berry Petroleum

$8.90

-2.405 (-21.27%)

19:10
11/19/19
11/19
19:10
11/19/19
19:10
Downgrade
Berry Petroleum rating change  »

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NYMT

New York Mortgage

$6.25

0.015 (0.24%)

19:05
11/19/19
11/19
19:05
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19:05
Syndicate
New York Mortgage 25M share Spot Secondary priced at $6.10 »

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LNG

Cheniere Energy

$59.77

-0.69 (-1.14%)

19:01
11/19/19
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19:01
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19:01
Hot Stocks
Cheniere Energy CEO buys 8.4K shares of common stock »

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SQ

Square

$66.43

0.68 (1.03%)

18:57
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18:57
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18:57
Hot Stocks
Square CFO: Our mission is economic empowerment »

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AVID

Avid Technology

$7.74

0.15 (1.98%)

, DL

China Distance Education

$7.15

0.05 (0.70%)

18:56
11/19/19
11/19
18:56
11/19/19
18:56
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: Avid…

AVID

Avid Technology

$7.74

0.15 (1.98%)

DL

China Distance Education

$7.15

0.05 (0.70%)

ESE

Esco Technologies

$86.71

1.94 (2.29%)

BCRX

BioCryst

$2.03

0.33 (19.41%)

CTMX

CytomX Therapeutics

$5.15

-0.03 (-0.58%)

ENDP

Endo

$4.44

-0.02 (-0.45%)

AVYA

Avaya

$12.11

-0.22 (-1.78%)

BKR

Baker Hughes

$22.01

-0.155 (-0.70%)

URBN

Urban Outfitters

$28.73

-1.43 (-4.74%)

ALC

Alcon

$59.00

0.105 (0.18%)

ORGO

Organogenesis

$8.01

0.02 (0.25%)

AMRN

Amarin

$22.74

0.11 (0.49%)

CRSP

Crispr Therapeutics

$68.46

9.94 (16.99%)

MGP

MGM Growth

$32.46

-0.39 (-1.19%)

RIG

Transocean

$4.66

-0.16 (-3.32%)

NYMT

New York Mortgage

$6.25

0.015 (0.24%)

MSEX

Middlesex Water

$62.07

1.5 (2.48%)

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NVDA

Nvidia

$207.90

-4.36 (-2.05%)

, MLNX

Mellanox

$114.40

0.245 (0.21%)

18:47
11/19/19
11/19
18:47
11/19/19
18:47
Hot Stocks
Nvidia CEO: We're at the beginning of the artificial intelligence revolution »

In an interview on…

NVDA

Nvidia

$207.90

-4.36 (-2.05%)

MLNX

Mellanox

$114.40

0.245 (0.21%)

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GCI

Gannett

$9.67

-0.01 (-0.10%)

18:44
11/19/19
11/19
18:44
11/19/19
18:44
Periodicals
Gannett CEO seeks to spare journalists from job cuts, WSJ reports »

Paul Bascobert, CEO of…

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BABA

Alibaba

$185.23

0.58 (0.31%)

18:41
11/19/19
11/19
18:41
11/19/19
18:41
Periodicals
Alibaba to raise nearly $13B in Hong Kong secondary listing, Reuters reports »

Alibaba will raise up to…

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BNPQY

BNP Paribas

$0.00

(0.00%)

18:36
11/19/19
11/19
18:36
11/19/19
18:36
Periodicals
BNP Paribas overhauls compliance unit after sanctions settlement, WSJ says »

Five years after agreeing…

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