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Keefe, Bruyette & Woods Lowers Price Target On Comerica As Energy Loans Perform Well In 4Q

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In a report published Tuesday, Keefe, Bruyette & Woods analyst Brian Klock reiterated a Market Perform rating on Comerica Incorporated (NYSE: CMA), but lowered the price target from $50.00 to $47.00.

In the report, Keefe, Bruyette & Woods noted, “We have lowered our '15 EPS estimate by 5c to $2.98, largely to reflect the updated KBW economic baseline & to incorporate guidance. We lowered our '16 estimate 12c to $3.53 due to an expectation of lower NII. With the decrease in cash flows, we lowered our target price $3 to $47. Given the overhang from Energy & low rates, we maintain our Market Perform rating.”

CMA closed on Friday at $41.47.

Latest Ratings for CMA

Oct 2016Deutsche BankMaintainsHold
Oct 2016FBR CapitalDowngradesOutperformMarket Perform
Oct 2016WedbushInitiates Coverage onNeutral

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Posted-In: Brian Klock Bruyette & Woods KeefeAnalyst Color Price Target Analyst Ratings


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