Bank of America Reiterates Buy Rating on Comerica

Bank of America is reiterating its Buy rating on shares of Comerica

. “Following mgmt meetings, we reiterate our Buy rating on CMA. Our discussion confirmed our view that: 1) not only is CMA the most highly tethered regional bank to a broad economic recovery, but company-specific dynamics on both loan growth and lending margin will lead to material revenue outperformance; and 2) it is not aggressively looking for further deals near-term,” Bank of America writes. “We understand investor concerns that as the broad economic recovery slows, CMA lacks a near-term catalyst. However, it appears widely recognized by investors that CMA will post superior revenue growth as the economy picks up and rates rise, and waiting too long to own the shares could cause investors to miss upside potential in our view.” Comerica closed Wednesday at $34.51.