Citi downgraded Comerica to Neutral from Buy with a price target of $56, down from $60. The firm’s post-earnings conversations with Comerica’s in-state peers indicate deposit mix shift trends are still elevated and 2024 loan growth is likely to be limited. The analyst is taking a modestly more conservative stance on Comerica’s mix shift and tweaked its second half of 2024 loan growth down modestly.
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- Comerica price target raised to $56 from $54 at Piper Sandler
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- Comerica price target lowered to $60 from $62 at Truist