Market Overview

UPDATE: Sterne Agee Downgrades Comerica to Neutral on Limited Upside

Share:
Related CMA
3 Stocks That Could Benefit As Fed Considers Easier Stress Tests For Regional Banks
Comerica Shares Upgraded By Goldman, Added To 'Conviction Buy' List
Latest stress test changes bad news for TBTFs, good news for smaller players (Seeking Alpha)

Sterne Agee reduced its rating on Comerica (NYSE: CMA) from Buy to Neutral and lowered its price target from $36 to $32.

Sterne Agee noted, "We are downgrading the shares to Neutral from Buy despite a valuation slightly below TBVPS. In our view the upside/downside proposition has changed, with the shares still having minimal downside risk, but also less upside potential. We have lowered our FY13/14 estimates by ~4%. For longer-term shareholders the shares still represent a solid holding; our view is the name is less likely to outperform going forward unless something meaningful occurs with interest rates."

Comerica closed at $30.30 on Wednesday.

Latest Ratings for CMA

DateFirmActionFromTo
Sep 2016Goldman SachsUpgradesNeutralBuy
Sep 2016BarclaysMaintainsUnderweight
Sep 2016CLSAMaintainsOutperform

View More Analyst Ratings for CMA
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (CMA)

View Comments and Join the Discussion!