Comerica Incorporated´s (CMA) Estimates Raised

Analysts at Stifel Nicolaus have released an update on Comerica Incorporated (NYSE: CMA).

The company announced after market close on Monday that it will raise $800 million in common stock presumably to repay the TARP money. However, management has not given any information on whether it has received an approval to return the TARP money.

Analysts have, however, raised the EPS estimates to account for the potential TARP repayment by the end of first-quarter. Analysts expect the bank to make a profit of $0.19 per share in 2010, as against their previous estimate of a loss of $0.40 per share. The 2011 EPS estimate has been raised from $0.85 to $1.42.

Analysts at Stifel Nicolaus continue to rate Comerica Incorporated as a Hold.