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Comerica (CMA) Gets a Hold Rating from Goldman Sachs

Goldman Sachs analyst Ryan Nash maintained a Hold rating on Comerica (CMAResearch Report) today and set a price target of $93.00. The company’s shares closed last Friday at $82.83.

According to TipRanks.com, Nash is ranked #1111 out of 7945 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Comerica with a $98.33 average price target.

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Based on Comerica’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $707 million and net profit of $189 million. In comparison, last year the company earned revenue of $710 million and had a net profit of $350 million.

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Comerica, Inc. engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other. The Business Bank segment involves in the middle market businesses, multinational corporations, and governmental entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication. The Retail Bank segment includes small business banking and personal financial services, which consist of consumer lending, consumer deposit gathering, and mortgage loan origination. The Wealth Management segment offers fiduciary services, private banking, retirement services, investment management and advisory services, investment banking and brokerage services. The Finance segment comprises corporation’s securities portfolio and asset and liability management activities. The Other category consists of income and expense impact of equity and cash, tax benefits, charges of an unusual or infrequent nature that are not reflective of the normal operations, and miscellaneous other expenses of a corporate nature. The company was founded in 1973 and is headquartered in Dallas, TX.

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