UPDATE: Stifel Nicolaus Upgrades Comerica to Hold Following Q3 Results
Stifel Nicolaus raised its rating on Comerica (NYSE: CMA) from Sell to Hold.
Stifel Nicolaus noted, "Based on the company's 3Q12 results reported on Wednesday, which were in line with our below consensus expectations, we are maintaining our 2012 and 2013 EPS estimates of $2.61 and $2.60, respectively. However, we are upgrading the shares to Hold from Sell due to their recent underperformance against the banking sector and the broader market. Since mid-September CMA shares are down 8.5% versus a 2.8% decrease in the S&P Bank Index and 0% return in the S&P 500."
Comerica closed at $30.30 on Wednesday.
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