J.P. Morgan analyst Anthony Elian maintains $Comerica (CMA.US)$ with a hold rating, and adjusts the target price from $65 to $70.
According to TipRanks data, the analyst has a success rate of 24.2% and a total average return of -8.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Comerica (CMA.US)$'s main analysts recently are as follows:
The company witnessed a third-quarter earnings surpass that was facilitated by performance exceeding expectations in areas such as expenses, provisions, and taxes.
Comerica's recent performance surpassed expectations due to reduced provisions and expenses, while revenue remained consistent and loan trends were lackluster. The company has adjusted its projections for loans, deposits, and fees downwards but anticipates higher net interest income and has lowered its expected tax rate, prompting a revision of estimates.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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