“We reiterate our Buy rating on Comerica (CMA) as a hawkish Fed, combined with a strong capital position, bodes well for CMA’s earnings outlook over the next 12-18 months. CMA’s recent mid- quarter update was on balance positive as QTD loan growth is in line with our expectations, despite a modest decline in deposits. We expect a continued upward bias to both our estimates and consensus given the likelihood of four rate hikes by the Fed (we currently model three in 2018), management’s expense control, and the probability of significantly greater capital deployment. We raise our estimates to reflect our updated assumptions for NIM trends given 2Q18 LIBOR trends and higher capital deployment than we had previously modeled (we now estimate a 132% combined payout ratio).”
According to TipRanks.com, Moss is a 5-star analyst with an average return of 13.2% and a 79.8% success rate. Moss covers the Financial sector, focusing on stocks such as Meta Financial Group, Banc of California, and Regions Financial.
Currently, the analyst consensus on Comerica Inc is Moderate Buy and the average price target is $106.88, representing an 11.1% upside.
In a report issued on June 12, Jefferies also maintained a Buy rating on the stock with a $109 price target.
The company has a one-year high of $102.66 and a one-year low of $64.04. Currently, Comerica Inc has an average volume of 1.5M.
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Comerica, Inc. engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other.