Goldman Sachs analyst Ryan Nash downgrades $Comerica (CMA.US)$ to a hold rating, and adjusts the target price from $85 to $71.
According to TipRanks data, the analyst has a success rate of 65.9% and a total average return of 11.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Comerica (CMA.US)$'s main analysts recently are as follows:
In a projection toward a more normalized environment, it is believed that Comerica's relative improvement in operating metrics may trail behind its peers. While the bank might experience benefits in net interest income by 2025 from securities repricing and the resurgence of loan growth, the performance of demand deposit accounts could pose challenges in a slower rate-cutting cycle, impacting overall net interest income.
Analysts remain positive on the prospects of bank stocks into 2025, suggesting that accelerating earnings growth, driven by improved loan growth, expanding capital markets activity, the return of positive operating leverage, and share buybacks, will bolster the sector. Additionally, price-to-earnings multiples are expected to expand due to a stable economic environment, reduced regulatory pressures, enhanced returns, and ongoing mergers and acquisitions. It is suggested that large-cap banks have the potential to surpass market performance as earnings growth continues to accelerate.
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