Stephens raised the firm’s price target on Comerica (CMA) to $70 from $64 and keeps an Overweight rating on the shares. Comerica reported better-than-expected results in Q3, with net interest income increasing sequentially and the loan loss provision coming in at half of the firm’s forecast, notes the analyst, who also points out that management remains confident that net interest income hit an inflection point in Q2 and is positioned for continued growth into 2025.
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