Comerica Analysts Slash Their Forecasts After Q1 Earnings

Comerica Incorporated CMA reported better-than-expected earnings for its first quarter on Monday.

The company posted quarterly earnings of $1.25 per share which beat the analyst consensus estimate of $1.15 per share. The company reported quarterly sales of $829.00 million which missed the analyst consensus estimate of $831.34 million.

Comerica shares dipped 4.4% to close at $50.60 on Monday.

These analysts made changes to their price targets on Comerica following earnings announcement.

JP Morgan analyst Anthony Elian downgraded Comerica from Neutral to Underweight and lowered the price target from $64 to $52.
Baird analyst David George maintained Comerica with an Outperform rating and lowered the price target from $80 to $75.
Wells Fargo analyst Mike Mayo maintained the stock with an Equal-Weight rating and cut the price target from $67 to $55.

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Considering buying CMA stock? Here’s what analysts think: