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CMA

Comerica

$64.59

-0.91 (-1.39%)

07:29
10/18/19
10/18
07:29
10/18/19
07:29

Comerica downgraded to Hold from Buy at Argus

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.

CMA Comerica
$64.59

-0.91 (-1.39%)

10/17/19
PIPR
10/17/19
DOWNGRADE
Target $72.5
PIPR
Neutral
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.
10/17/19
JPMS
10/17/19
DOWNGRADE
Target $65
JPMS
Underweight
JPMorgan downgrades 'value trap' Comerica to Underweight from Neutral
JPMorgan analyst Steven Alexopoulos downgraded Comerica to Underweight from Neutral with a price target of $65, down from $70. The company's net interest margin has trended down over the past several quarters, Alexopoulos tells investors in a post-earnings research note. As fed funds rate continues to drift lower, the analyst believes Comerica's earnings growth will trend negative in 2020 and below current consensus estimates. Further, while the stock "appears cheap," this is "much more of a value trap than value," contends Alexopoulos.
10/17/19
10/17/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Netflix (NFLX) downgraded to Neutral from Outperform at Macquarie with analyst Tim Nollen saying growth in Netflix's key metric, subscribers, is slowing in the U.S. but still strong abroad. 2. Comerica (CMA) downgraded to Underweight from Neutral at JPMorgan and to Neutral from Overweight at Piper Jaffray. 3. Pattern Energy (PEGI) downgraded to Neutral from Buy at Goldman Sachs with analyst Brian Lee citing limited return potential to his revised price of $25, which he raised from $24. 4. Monster Beverage (MNST) downgraded to Market Perform from Outperform at Cowen with analyst Vivien Azer saying Monster has ceded, on average, 220 basis points of dollar market share over the last six months and an average 210 basis points of market share over the last 12 months. 5. Cheesecake Factory (CAKE) downgraded to Market Perform from Outperform at Raymond James with analyst Brian Vaccaro citing his view that lower near-term comp visibility and a below-Street 2020 EPS estimate of $2.65 offset his favorable outlook of its recently acquired growth concepts and the stock's reasonable valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/18/19
ARGS
10/18/19
DOWNGRADE
ARGS
Hold
Comerica downgraded to Hold from Buy at Argus

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BOOT

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ERIC

Ericsson

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GLD

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PICO

PICO Holdings

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QHC

Quorum Health

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SPRT

Support.com

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BXRX

Baudax Bio

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LMT

Lockheed Martin

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Envestnet

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NOC

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MGTA

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IMH

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ATAX

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PNM

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