Comerica price target raised to $51 from $43 at Wells Fargo

Wells Fargo raised the firm’s price target on Comerica (CMA) to $51 from $43 and keeps an Underweight rating on the shares. The firm notes Comerica beat on lower provisions and lower expenses, with in-line revenues and weak loan trends. Comerica lowered loan, deposit, and fee guidance, but raised net interest income and reduced the tax rate, leading Wells to increase estimates and target.