Comerica downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded Comerica to Market Perform from Outperform without a price target. The analyst sees Comerica’s interest rate positioning being a “formidable challenge” to a return to the net interest margin and net interest income levels that were seen in 2022 and 2023. The firm views the shares as fairly valued given the bank’s expense headwinds, which includes increasing amounts of costs linked to eventually crossing $100B in assets.