On Oct 22, major Wall Street analysts update their ratings for $Comerica (CMA.US)$, with price targets ranging from $67 to $70.
Morgan Stanley analyst Manan Gosalia maintains with a hold rating, and adjusts the target price from $63 to $67.
J.P. Morgan analyst Anthony Elian maintains with a hold rating, and adjusts the target price from $65 to $70.
Truist Financial analyst Brandon King maintains with a hold rating, and adjusts the target price from $66 to $70.
Stephens analyst Terry McEvoy maintains with a buy rating, and adjusts the target price from $64 to $70.
Furthermore, according to the comprehensive report, the opinions of $Comerica (CMA.US)$'s main analysts recently are as follows:
The recent outperformance in Q3 was propelled by net interest income, provisions, and expense management. Looking ahead, the outlook towards 2025 for net interest income is positive, and the initiation of $100M in share repurchases in Q4 is occurring earlier than anticipated.
The company's Q3 earnings outperformed due to favorable outcomes in expenses, provisions, and taxes.
Comerica's recent performance surpassed expectations due to reduced provisions and expenses, while revenues remained consistent and loan trends were soft. The company has readjusted its guidance, decreasing projections for loans, deposits, and fees, but projecting higher net interest income and a lower tax rate, prompting a revision of estimates.
Here are the latest investment ratings and price targets for $Comerica (CMA.US)$ from 4 analysts:
Note:
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