Wedbush analyst David Chiaverini downgraded Comerica to Neutral from Outperform with a price target of $45, down from $47. The firm expects below-average earnings growth in 2024 as it projects a pre-provision net revenue decline of 14% compared to the regional bank median decline of 1%. In addition, Comerica’s commercial real estate exposure is second-highest in regional banking group, the analyst tells investors.
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