Baird raised the firm’s price target on Comerica (CMA) to $80 from $75 and keeps an Outperform rating on the shares. The firm met with management who was generally optimistic overall and seemed confident in their positioning to grow PPNR while maintaining their disciplined credit culture. Loan pipelines remain healthy, fee businesses are performing well, and asset quality/capital trends are solid. Baird said they would be buyers ot the shares on any weakness.
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Read More on CMA:
- Morgan Stanley, Comerica upgraded: Wall Street’s top analyst calls
- Comerica upgraded to Equal Weight from Underweight at Wells Fargo
- Comerica announces additional 10M share repurchase program
- Comerica price target raised to $68 from $64 at DA Davidson
- Comerica price target raised to $70 from $64 at Stephens
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