Comerica price target raised to $70 from $66 at Truist

Truist raised the firm’s price target on Comerica (CMA) to $70 from $66 and keeps a Hold rating on the shares as part of a broader research note recapping Q3 results for Community/Regional banks. The company’s guidance of 6% sequential net interest income growth in Q4 was well ahead of the firm’s prior forecast as deposit trends have been better than expected, though the balance sheet remains liability sensitive and the firm’s assumption of continued Fed rate cuts through 2025 support continued net interest income growth, the analyst tells investors in a research note, adding that an acceleration in lending is a catalyst for Comerica’s continued positive revisions.