UPDATE: Wunderlich Upgrades Comerica Incorporated

In a noted dated September 25, Wunderlich analyst Kevin Reynolds upgraded shares of

from Hold to Buy and raised the price target from $55 to $65. Reynolds explained the consensus estimate for a start date for increases to short-term interest rates is mid-2015. Although he agrees this is the most likely scenario, Reynolds said the recent debates warranted a check of the stocks most sensitive to an increased rate. As a result of his check, Reynolds found Comerica's management believes a 200 bps annual increase in the Fed Fund rate would add between $180 and $240 million to the company's net interest income. This translates to $0.75-$0.80 per share, a figure he believes justifies an upgrade.