Citi downgraded Comerica to Neutral from Buy with a price target of $56, down from $60. The firm’s post-earnings conversations with Comerica’s in-state peers indicate deposit mix shift trends are still elevated and 2024 loan growth is likely to be limited. The analyst is taking a modestly more conservative stance on Comerica’s mix shift and tweaked its second half of 2024 loan growth down modestly.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CMA:
- Comerica Bank appoints Floyd Kessler as chief business risk, controls officer
- Comerica Inc. Streamlines Board and Approves New Incentives
- Comerica price target raised to $56 from $54 at Piper Sandler
- Comerica Declares Common and Preferred Stock Dividends
- Comerica price target lowered to $60 from $62 at Truist