Jefferies Reiterates Hold Rating, $34 PT on Comerica Incorporated
In a report published Wednesday, Jefferies & Company reiterated its Hold rating and $34.00 price target on Comerica Incorporated (NYSE: CMA).
Jefferies noted, “Core operating trends were pretty good overall, as loan growth was solid, expenses declined nicely, and credit quality improved. However, we expect the net interest income trajectory will continue to be challenged, which keeps our '13 estimate at $2.75. Trading a touch below tangible book value ($32.82), CMA should have downside support, but upside could be limited with rate hikes likely on hold until late-2014, in our view.”
Comerica Incorporated closed on Tuesday at $31.99.
Latest Ratings for CMA
|Jul 2016||Wells Fargo||Upgrades||Underperform||Market Perform|
|Jul 2016||JP Morgan||Maintains||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.