Sterne Agee Maintains Buy Rating and $35 PT on Comerica

A report from Sterne Agee reiterates its Buy rating and $35 price target on Comerica (NYSE: CMA).

The report states, “Given that 3Q results were overall disappointing, we are hopeful that conservative 4Q guidance results in earnings power being more evident for FY12. We think the shares are attractive vis-à-vis peers despite the low rate environment, noting CMA already has low loan yields compared to the bank industry (4.01% in 3Q including Sterling accretion).”

CMA closed Friday at $26.47.