UPDATE: Wunderlich Securities Upgrades Comerica Incorporated As Shares are Undervalued

In a report published Thursday, Wunderlich Securities analyst Kevin Reynolds upgraded the rating on

from Hold to Buy, and raised the price target from $55.00 to $65.00. In the report, Wunderlich Securities noted, “We are upgrading shares of Comerica, Inc. (CMA) to Buy from Hold and raising our price target by $10 to $65 at this time. CMA's track record of strong performance, in which the company has bested consensus expectations for 15 straight quarters, is likely to continue for the foreseeable future. On top of this, we view CMA as the most asset sensitive regional bank in our research universe, and with the FOMC likely to begin tightening in mid-2015 (if not earlier), we believe it is appropriate to begin incorporating the benefits of higher interest rates into our outlook. With more and more Fed participants hinting at the possibility of rising short-term rates in 2015, we believe investors should begin accumulating CMA shares, given its position as a top beneficiary of FOMC tightening.” Comerica Incorporated closed on Wednesday at $50.44.