In a report issued on July 20, Jon Arfstrom from RBC Capital maintained a Buy rating on Comerica (CMA – Research Report), with a price target of $101.00. The company’s shares closed last Friday at $78.00.
According to TipRanks.com, Arfstrom is a 5-star analyst with an average return of 20.6% and a 56.4% success rate. Arfstrom covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Old National Bancorp Capital, and Provident Financial Services.
Currently, the analyst consensus on Comerica is a Moderate Buy with an average price target of $90.15, implying a 13.3% upside from current levels. In a report issued on July 7, Robert W. Baird also maintained a Buy rating on the stock with a $85.00 price target.
Comerica’s market cap is currently $10.35B and has a P/E ratio of 11.58.
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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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