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CMA

Comerica

$70.52

0.62 (0.89%)

07:28
11/26/19
11/26
07:28
11/26/19
07:28

Comerica downgraded to Equal Weight on lack of catalysts at Morgan Stanley

As previously reported, Morgan Stanley analyst Ken Zerbe downgraded Comerica to Equal Weight from Overweight with a price target of $75, down from $77. Driven by its high level of asset sensitivity and its lag to the industry in repricing its deposit costs lower, Zerbe sees "far more" net interest margin compression at Comerica by the end of 2020 than the median he expects at its peers, the analyst tells investors. While the Fed being on pause gives him more confidence in his net interest income assumptions, he sees too few catalysts remaining for the stock given the bulk of the bank's share repurchases are complete, the Fed is still biased toward cutting rates rather than raising, and loan growth is slowing, Zerbe said.

  • 21

    Jan

CMA Comerica
$70.52

0.62 (0.89%)

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
10/18/19
ARGS
10/18/19
DOWNGRADE
ARGS
Hold
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.
11/26/19
MSCO
11/26/19
DOWNGRADE
Target $75
MSCO
Equal Weight
Comerica downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Ken Zerbe downgraded Comerica to Equal Weight from Overweight with a $75 price target.

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FATE

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KPTI

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  • 07

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ABBV

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SRRA

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CLF

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M

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AXLA

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AZN

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ABBV

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