Comerica initiated with a Hold at Truist

Truist analyst Brian Foran initiated coverage of Comerica (CMA) with a Hold rating and $65 price target Tangible book value has recovered about 50% from a Q3 of 2023 trough and the firm expects it grow by about another 10% over the next two years, the analyst tells investors. Beyond “the simple interest rate story,” the firm is focused on Comerica’s recent soft loan growth and lack of ability to grow over time, the analyst added.